February U.S. cutting tool consumption was $157 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 1.2 percent from January and down 6.8 percent from February 2013.
The totals here represent about 80 percent of the U.S. market for cutting tools.
“The trend is certainly on an upward climb as incoming orders have indicated a strong finish for the first quarter of the calendar year,” said Tom Haag, president of USCTI.