U.S. Cutting Tool Consumption Down 8.3 Percent in August
MCLEAN, VA — August U.S. cutting tool consumption totaled $175.21 million according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 19.2 percent from July’s $146.95 million and up 4.3 percent when compared with the total of $167.91 million reported for August 2015. With a year-to-date total of $1.352 billion, 2016 is down 8.3 percent when compared with 2015.
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.