July U.S. cutting tool consumption was $170 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 1.1 percent from June’s total but up 1.5 percent from July 2013.
The totals represent about 80 percent of the U.S. market for cutting tools.
“While July sales numbers in 2014 were down by 1.1 percent, this isn't unusual for the months leading up to Chicago’s International Manufacturing Technology Show,” said Brad Lawton, chairman of AMT’s cutting tool product group. “Cutting tool consumption continues to contribute to the industry’s stability. Having remained strong for the 6th consecutive month, these figures reassure our confidence in the current market conditions.”