The 2020 Mid-Year Economic Update_long

August U.S. Cutting Tool Consumption Down 2.7% from July

Total cutting tool consumption was $166 million in August.

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.”

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.