May U.S. cutting tool consumption totaled $165.7 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 4.6 percent from April's total and down 4.1 percent from May 2015.

With a year-to-date total of $855.5 million, 2016 was down 9.1 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.

“The cutting tool industry continues to show negative results for month-to-month and year-to-date sales performance, which reflects the anxiety in the nation’s manufacturing industry," said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. "This condition will more than likely continue through the end of 2016.”