Cutting tool consumption up 5.8% from last year
Cutting tool consumption is up 5.8% compared to a year ago - more good news for U.S. manufacturing.
In June, the U.S. cutting tool consumption totaled $186.57 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 2.8% from May's $191.93 million and up 6.0% when compared with the total of $175.97 million reported for June 2016. With a year-to-date total of $1.095 billion, 2017 is up 5.8% when compared with 2016.
These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.
“2017 continues to be a much stronger year for cutting tools than 2016.” says Steve Stokey, President of USCTI. “High consumer confidence is a strong indicator that cutting tools sales will continue to improve through the second half of the year.”