August U.S. Cutting Tool Orders Up 16.2% YoY - Modern Distribution Management

Log In

August U.S. Cutting Tool Orders Up 16.2% YoY

U.S. cutting tool consumption totaled $219.2M, according to the U.S. Cutting Tool Institute and Association For Manufacturing Technology.
cutting tool consumption

U.S. cutting tool consumption in August totaled $219.2 million, according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology.

The total — reported by companies participating in the Cutting Tool Market Report collaboration — was up 16.2% from July’s $188.6 million and up 4% when compared with the $210.9 million reported for August 2022.

With a year-to-date total of $1.65 billion, 2023 is up 8.6% when compared to the same time period in 2022.

“The industry has seen some softening in recent months, but the overall cutting tool market remains positive,” said Jeff Major, president of USCTI. “Several market segments are leading the continued demand for tooling. It will be interesting to see how the automotive labor issues affect the market in the coming months.”

Costikyan Jarvis, president of Jarvis Cutting Tools, added: “The August cutting tool report shows the continued strength of the manufacturing sector. Obviously, there are some concerns, both immediate and medium term.On the immediate side, the UAW strike creates uncertainty around automotive production. On the medium-term side, where and how the higher interest rates affect production remain to be seen, and, globally, we now have two major armed conflicts. Even with these concerns, there is promise for continued improvement. There is considerable investment in infrastructure projects, and reshoring the production of many components and entire processes will drive increased cutting tool demand.”

Related Posts

Share this article

About the Author
Recommended Reading
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.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

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

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 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



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
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

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

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.