October U.S. cutting tool consumption was $193.6 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 9.7 percent from September’s total and up 3.3 percent from October 2013.
The totals represent about 80 percent of the U.S. market for cutting tools.
“October 2014 has given some indication that we have turned the proverbial corner in the cutting tool industry,” said Tom Haag, president of USCTI. “Sales volume has recorded the best month in over two years going back to March 2012 and four of the last five months have outperformed 2013.”