According to a survey conducted by the American Cutting Tool Association (USCTI) in the spring of 2009, members of the association expect that 2009 will be a tough year for the US cutting tool industry. The survey focused on tool companies' views on several issues, including: the outlook for the US economy, forecasts for tool industry shipments, changing employment levels, raw material costs, product exports, funding issues, and employee behavior.
In this survey, more than 80% of the respondents believe that the US economic outlook is worrisome, and it is expected that there will be a more serious recession in 2009. This view is also logically reflected in their predictions of the near-term outlook for the US cutting tool industry: more than 60% of respondents expect shipments in the industry to fall by more than 20%; more than 90% of respondents expect Shipments in the industry will fall by at least 10%.
Unfortunately, the export situation is also difficult to help with sluggish domestic demand. In 2009, about half of the tool companies' exports have fallen, with an average decline of 29%.
Most toolmakers have cut their payroll expenses, and more than 85% of respondents said their employment levels fell in the first quarter of 2009, compared to an average of 15% in the fourth quarter of 2008. Other labor-related declines include: 70% of companies cut weekly work hours; 35% of companies put employees on vacation; 49% cut business hours; 23% temporarily shut down factories; 16% The company has forcibly extended the vacation time.
A positive factor is that in the past three months, more than 40% of USCTI member companies have reduced the cost of raw materials used to make cutting tools, with an average drop of about 22%. Another 56% of companies said that raw material prices remain unchanged.
When asked about funding issues, 12% of respondents said they were more difficult to raise funds for equipment purchases; 44% of respondents experienced more restrictive credit terms; 19% of companies There is a need to pay higher interest rates on loans; 70% of companies are experiencing more difficulties in recovering accounts receivable.
In this survey, more than 80% of the respondents believe that the US economic outlook is worrisome, and it is expected that there will be a more serious recession in 2009. This view is also logically reflected in their predictions of the near-term outlook for the US cutting tool industry: more than 60% of respondents expect shipments in the industry to fall by more than 20%; more than 90% of respondents expect Shipments in the industry will fall by at least 10%.
Unfortunately, the export situation is also difficult to help with sluggish domestic demand. In 2009, about half of the tool companies' exports have fallen, with an average decline of 29%.
Most toolmakers have cut their payroll expenses, and more than 85% of respondents said their employment levels fell in the first quarter of 2009, compared to an average of 15% in the fourth quarter of 2008. Other labor-related declines include: 70% of companies cut weekly work hours; 35% of companies put employees on vacation; 49% cut business hours; 23% temporarily shut down factories; 16% The company has forcibly extended the vacation time.
A positive factor is that in the past three months, more than 40% of USCTI member companies have reduced the cost of raw materials used to make cutting tools, with an average drop of about 22%. Another 56% of companies said that raw material prices remain unchanged.
When asked about funding issues, 12% of respondents said they were more difficult to raise funds for equipment purchases; 44% of respondents experienced more restrictive credit terms; 19% of companies There is a need to pay higher interest rates on loans; 70% of companies are experiencing more difficulties in recovering accounts receivable.
PERFECT & SMART TOOL FOR CEILING FASTENING
• Rugged Stainless Steel Housing
• Easy to use and maintain
• Stretch Length: maximum jobsite height of 5.00 meters with poles
• Lowest noise (db) level of any powder tool on the market.
• Versatile applications to the Dry Wall, Wood, Concrete, Aluminum and Steel Beams
Ceiling Fastening Tool,Ceiling Powder Tool,Ceiling Nails,Ceiling Nailer Gun
Sichuan Nanshan Powder Actuated Fastening System Co., Ltd. , https://www.nanshanpat.com