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May U.S. cutting tool consumption was $191.9 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 15.5 percent from May 2016 and up 14.2 percent from April.
With a year-to-date total of $908 million, 2017 is up 5.8 percent when compared with 2016.
“The cutting tool industry is feeling the strong activity, supported by May’s positive numbers,” says Brad Lawton, chairman of AMT’s cutting tool product group. “As domestic manufacturing growth is projected to continue, 2017 will be a much better year for the cutting tool industry.”