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US Cutting Tool Orders Total $183.1 Million in November 2024, Down 0.3% Year to Date

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Shipments of cutting tools in the U.S. totaled $183.1 million in November 2024, according to the Cutting Tool Market Report from AMT – The Association For Manufacturing Technology and the U.S. Cutting Tool Institute (USCTI). This marked a 13.8% decrease from October 2024 and a 9.7% decline compared to November 2023.

Year-to-date shipments for 2024 reached $2.25 billion, a slight drop of 0.3% from the same period in 2023. The growth rate has slowed each month since April 2024, largely due to uncertainty surrounding the election and potential policy changes, which have kept new projects and orders on hold.

“Uncertainty due to the election and now potential changes to policy have kept new projects and orders for manufactured products on hold, resulting in stagnant cutting tool consumption,” explained Jack Burley, chairman of AMT’s cutting tool product group. “Despite lower new orders for durable goods, the outlook remains optimistic for a return to more activity across all sectors. Aerospace was the most significant cause for the reduction in manufacturing activity, and many machine shops and tier 1 suppliers continue to wait for U.S. commercial aircraft orders to get back on track.”

The Cutting Tool Market Report provides key insights into U.S. manufacturers’ consumption of cutting tools, serving as an indicator of trends in U.S. manufacturing activity.




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