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March U.S. cutting tool consumption was $171 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 collaboration, was up 7.8 percent from February and down 2.5 percent from March 2013.
The totals here represent about 80 percent of the U.S. market for cutting tools.
“The first quarter of 2014 closed strong for cutting tools, which was in line with some other key industry indicators,” said Brad Lawton, chairman of AMT’s cutting tool product group. “Robust machine tool orders and a moderate increase in the industrial production index for manufacturing in March are good signs for future cutting tool sales.”