April U.S. cutting tool consumption totaled $183.5 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 4.6 percent from April 2014 and down 7.9 percent from March.
The totals represent the majority of the U.S. market for cutting tools.
"Clearly, the slowdown in the manufacturing sector has caused a decline in April," said Tom Haag president of USCTI. "The good news is that year-to-date performance is still above 2014 and the indicators are that it will remain as such throughout the year."