October U.S. cutting tool consumption totaled $169 million, according to the U.S. Cutting Tool Institute and AMT – the Association for Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 4.7 percent compared with October 2015 and down 1.6 percent from September.
With a year-to-date total of $1.698 billion, 2016 is down 6.9 percent when compared with 2015.
These numbers and all data in this report are based on the totals actually reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.
"The cutting tool year-over-year data continues to indicate 2016 is moving in the right direction," says Steve Stokey, president of USCTI. "With the uncertainty of the election behind us, businesses should be in a better position to confidently implement their plans. This should have a positive impact on the marketplace as we move into 2017."