February U.S. cutting tool consumption totaled $173.4 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 9.3 percent from January’s total and down 4 percent from February 2015.
With a year-to-date total of $332 million, 2016 is down 8.9 percent when compared with 2015.
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.
“Cutting tool shipments experienced an encouraging rebound in February despite soft durable goods orders and shipments,” says Greg Daco, head of U.S. macroeconomics at Oxford Economics. "Looking forward, most leading manufacturing indicators point to modest growth with domestically oriented sectors supported by solid business conditions. Global headwinds will continue to restrain activity, but the drag should gradually dissipate."
