U.S. Cutting Tool 2017 Consumption up 8.7% in January

According to the Association For Manufacturing Technology and the U.S. Cutting Tool Institute, January U.S. cutting tool consumption totaled $1373.05 million, which was down 8.7% compared to December 216, but up 8.7% on a year-over-year basis.

Brad Lawton, chairman of AMT’s Cutting Tool Product Group, said, “The early numbers for the first month of 2017 support the optimistic feelings that are growing in the domestic manufacturing market.  For the export of U.S. made cutting tools it is hoped that the strength of the U.S. Dollar and the Trump Administration trade policies will not destroy this potential business.  We must all wait and see the numbers at the end of the first quarter.”

“The latest data indicate cutting tool shipments are on a somewhat firmer footing in early 2017. The overall trend in durable goods orders and shipments points to firming activity after a lackluster 2016 performance. Likewise, most leading manufacturing indicators show improving domestic and global confidence levels,” said Gregory Daco, chief U.S. economist at Oxford Economics. “President Trump’s pro-growth fiscal agenda should stimulate activity by year-end and into 2018, though his protectionist and anti-immigration agenda represent notable downside risks.”

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Terry Mulreany
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