April U.S. cutting tool consumption was $175 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 2.1 percent from March and down 3.3 percent from April 2013.
The totals here represent about 80 percent of the U.S. market for cutting tools.
“The economic indicators continue to resonate in the metalworking industry exhibiting a return to growth. This is the second consecutive month-over-month increase with three months of the last four netting positive results over the fourth quarter of 2013,” said Tom Haag, president of USCTI. “This slow but positive growth is forecast to continue in the second half of 2014.”