U.S. cutting tool consumption falls in April
April U.S. cutting tool consumption totaled $168.03 million, down 16% from March’s $200.05 million and down 3.6% from $174.26 million reported for April 2016.
With a year-to-date total of $716.11 million, 2017 is up 3.5% when compared with 2016, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
“Once you get past the initial shock of seeing a large downturn in April and look deeper into the numbers, you begin to see that April had four less working days than March,” said Steve Stokey, president of USCTI. “The average sales per working day were actually up in April. This is good news for the industry as it continues to outperform 2016.”
Chris Kaiser, CEO of Big Kaiser, commented, “We have seen the cutting tool market recuperate and gain strength since IMTS 2016, with the exception of one or two months. If the activity in oil and gas, mining, construction, and agricultural industries continues to improve, I think we could see a continued year-over-year increase in cutting tool consumption. Once the situation for the machine tool OEM’s improves above and beyond the latest somewhat positive trends, things could actually accelerate faster than we expect. The only concern is whether this trend is sustainable, or will our politicians somehow spoil the party?”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
