The 2020 Mid-Year Economic Update_long

December U.S. Cutting Tool Consumption Up 20.3% YOY

Total cutting tool consumption of $168.2 million also up 7.2 percent from November.

December U.S. cutting tool consumption was $168.2 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 20.3 percent from December 2013 and 7.2 percent from November.

The totals represent about 80 percent of the U.S. market for cutting tools.

“The 2014 calendar year closed with a flurry and the overall growth in the cutting tool industry reporting was 5 percent year over year,” said Tom Haag, president of USCTI. “This is an indication that our market is steady and strong despite some volatility in the monthly statistics this past calendar year. December was a reflection on the auto industry perpetuating its strong growth while aerospace markets continue to work on an enormous backlog. The December sales closed a year with a strong message that manufacturing is still driving growth in our economy.”

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