June U.S. cutting tool consumption was $181 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 7.3 percent from May and up 9.9 percent from June 2013.
The totals represent about 80 percent of the U.S. market for cutting tools.
“June represents the strongest sales numbers in 2014 which projects optimism for the remainder of the year,” said Tom Haag, president of USCTI. “This strong month has continued to gain ground versus 2013 sales for the 5th consecutive month and sets the stage for surpassing last year’s totals.”