October U.S. cutting tool consumption totaled $177.2 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 3.4 percent from September’s total, down 15.4 percent from October 2014 and down 3.4 percent when compared year-to-date in 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.
"Our year over year data continues to weaken due to the strong finish of 2014 and a weak 2015," says Steve Stokey, president of USCTI. "Members continue to be optimistic about aerospace and automotive markets but see no short to mid-term improvement in the oil and gas industry for their products."
