U.S. cutting tool consumption in July totaled $177.5 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 6 percent from June’s total and down 5.6 percent from July 2014.
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.
“Caution is the condition of the month as we note the flat to declining cutting tool market performance. Changing currency values coupled with low oil prices support these conditions, with an outlook for improvements in the fourth quarter,” says Brad Lawton, chairman of AMT’s cutting tool product group.