b'Lead AngleBUSINESS AS UNUSUALN ormally, any Purchasing ManagersBuckle your seat belts!Index above 50a sign of industryTo be sure, cutting tool consumption expansionwould be reason for optimism,inched back up to $189.8 million in March especially after the PMI had fallen below 50before dropping to $142.9 million in Aprila sign of industry contractionin eachand $136.6 million in May.of the five previous months. Meanwhile, after bottoming out in April at By the time the Institute for Supply41.5, the PMI ticked up a bit to 43.1 in May, Management reported its January PMI ofthen soared back to positive territory with 50.9, however, we were well into February52.6 in June.and the industry already was bracing forWith ups and downs that dramatic, we all the looming pandemic despite an uptick inneed to keep our seat belts fastened until cutting tool consumption in January. this crazy pandemic roller coaster comes to Indeed, cutting tool consumption reacheda stop.$196.5 million in January, an increase overUntil then, its business as unusual.the previous month of 5%, according toThat is to say, usually this month is our Januarys Cutting Tool Market Report, whichIMTS pre-show issue. Although there is no was published in March by the United StatesIMTS this year, theres still a steady stream of Cutting Tool Institute and The Associationnew cutting tools and machine technologies for Manufacturing Technology. for CTE to write about. To that end, this issue Unfortunately, Februarys CTMR, whichincludes dozens of product announcements was published in mid-April, followed withand video demonstrations for readers. cutting tool consumption at $188.2 million,Tooling and workholding products begin a 4.2% drop from January. Thatcoupledon Page 10, machine tools and accessories with the PMI dipping to 50.1 in February,begin on Page 14, and metalworking then 49.1 in March and 41.5 in April products begin on Page 18.confirmed what industry professionals hadYou also may learn about new products suspected. and technologies featured in our special I think that USCTI President Bret Taynevideo showcase on pages 74 and 75. perfectly captured industry sentiment inEach item includes a link to a video Aprils CTMR news release: The mostdemonstration.recently released February cutting toolAs for the future, I just keep telling myself statistics reflect the modest slowing wethat business as unusual is still business.CTEbegan to see in the latter part of 2019. But these numbers precede the effects of the COVID-19 fallout. I suspect we have allabout the author experienced a much steeper drop over theDennis Spaeth is CEO and past several weeks. publisher of CTE. Contact Tayne, who is president of West Chicago,him at 847-714-0176 or Illinois-based Everede Tool Co., added,dspaeth@ctemedia.com.8AUGUST 2020LeadAngle.indd 8 7/21/20 6:28 PM'