May U.S. cutting tool consumption totaled $172.8 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 7 percent from May 2014 and down 6 percent from April.
The totals represent the majority of the U.S. market for cutting tools.
“The decline in May cutting tool shipments data is not surprising given the changing market, seasonal shutdowns and economic environment faced by our industry,” said Brad Lawton, chairman of AMT’s cutting tool product group. “The monthly swings in shipments are consistent with expectations for a flat year relative to 2014.”