April U.S. Cutting Tool Consumption Nearly $200 Million

Adsale Machinery's latest statistics: According to the US Cutting Tool Association (USCTI), the US spending on cutting tools was US$ 175 million in April 2014, which was a 2.1% increase from the previous quarter and a year-on-year decrease of 3.3%.

According to statistics, the US tool spending from January to April 2014 was US$661 million, a slight drop from the same period of last year. In addition, the US tool spending in 2013 was US$2.03 billion, a decrease of 3.9% year-on-year. Tom Haag, chairman of USCTI, stated that the overall situation of tool consumption in the United States is in line with the AMT Association's statistics on US machine tool orders. With the growth of U.S. machine tool orders this year, it is expected that U.S. tool spending in the second half of 2014 will continue to grow slowly in the last two months.

The CTMR tool market statistics report the project companies that participated in the tool market report in the United States. The total consumption accounts for about 80% of the US tool market. This indicator can serve as a vane for US manufacturing orders because it is the true measure of actual production levels. The cutting tools of the US Cutting Tool Association (USCTI) are classified into seven categories: Carbide Tooling, Drill & Reamer, Milling Cutter, PCD and PCBN, Tower Mould (Tap & Die), Tool Holder and other tools.