July U.S. cutting tool consumption totaled $171 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 8.4 percent from June’s $186.6 million and up 16 percent when compared with the total of $147.4 million reported for July 2016. With a year-to-date total of $1.3 billion, 2017 is up 7.1 percent when compared with 2016.
"The cutting tool industry certainly is on a pace to exceed 2016 totals,” says Brad Lawton, chairman of AMT’s cutting tool product group. “With the continuation of strong domestic economic growth, there is a potential recovery to the industry levels of 2015.”