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August U.S. cutting tool consumption was $166 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 down 2.7 percent from July’s total and down 3 percent from August 2013.
The totals represent about 80 percent of the U.S. market for cutting tools.
“August has traditionally been a period of slower sales for the cutting tool industry due to summer holidays and automotive model change-overs,” said Tom Haag, president of USCTI. “The three-month rolling average actually shows the sales as fairly steady throughout the summer. The third quarter should close much stronger with September bringing the industry back to full speed.”