U.S. manufacturers consumed $200.97 million worth of cutting tools during July, a decline of 5.4% from the June total and still 17.6% higher than the July 2017 total. The figures are supplied by the Cutting Tool Market Report issued by the U.S. Cutting Tool Institute and AMT – the Association for Manufacturing Technology.
The monthly CTMR documents actual sales totals for cutting tools by participating manufacturers, who represent the majority of the U.S. market for those products.B
ecause cutting tools are a basic consumable product for manufacturing activities, the consumption data is further evidence of the ongoing strength of the manufacturing sector.
While the July report represents the second consecutive decline in cutting tool consumption, the new results bring the total for 2018 cutting-tool consumption to $1.413 billion, an 11.7% rise over the comparable, seven-month total for cutting-tool consumption in 2017.
