January U.S. cutting tool consumption totaled $173.1 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 up 8.7 percent from December’s $159.2 million and up 8.7 percent from January 2016.
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 early numbers for the first month of 2017 support the optimistic feelings that are growing in the domestic manufacturing market,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group. “For the export of U.S. made cutting tools it is hoped that the strength of the U.S. Dollar and the Trump Administration trade policies will not destroy this potential business. We must all wait and see the numbers at the end of the first quarter.”