June Cutting Tool Orders Decline

June orders contracted by 8.6% compared with one year ago, which was the fourth consecutive month of month-over-month contraction and the fastest rate of contraction in those four months.

In June, cutting tool orders were $198.9 million, which was the first time that orders were below $200 million in 2019. June orders contracted by 8.6% compared with one year ago, which was the fourth consecutive month of month-over-month contraction and the fastest rate of contraction in those four months. The annual rate of growth decelerated for the fifth-straight month to 5.5%, which was the slowest rate of annual growth since September 2017.

The GBI: Metalworking is a good leading indicator of cutting tool orders. The rate of change in the Index began contracting in March and the contraction has accelerated since. The Index is clearly indicating that the annual rate of growth in cutting tool orders will continue to decelerate, if not begin to contract, for the remainder of 2019. The GBI typically leads cutting tool orders by seven-to-10 months.

Reports

Top Shops

‘Top Shops’ is a benchmarking and recognition program designed to help shops build their business.

World Machine Tool Survey

An independent annual survey that collects statistics from machine tool consuming and producing countries and compares them in real U.S. dollars.

Capital Spending Survey

An annual survey that collects statistics regarding budgeted spending on machine tools, testing equipment, software and more.

Gardner Business Index

A diffusion index measuring month-to-month changes in activity at durable goods and discrete parts manufacturing facilities.