March U.S. cutting tool consumption totaled $197.6 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 4.6 percent from March 2014 and up 9.8 percent from February.
The totals represent about 80 percent of the U.S. market for cutting tools.
"As we close the first quarter of 2015, strong cutting tool shipments in March prove that this year’s economic outlook remains solid for our industry," said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. "This increase is on track with the positive trend in machine tool orders and durable goods manufacturing. There is a possible caution in the Industry regarding the increasing value of the Dollar and the potential impact on exports."