According to the U.S. Cutting Tool Institute and the Association For Manufacturing Technology, February U.S. cutting tool consumption totaled $179.3 million.

This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 2.3 per cent from January’s total and up 1.6 per cent from February 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 about 80 per cent of the U.S. market for cutting tools.

“The start of 2015 has shown both January and February surpassing last year’s totals,” said Tom Haag, president of USCTI. “This increase has followed the same pattern in Manufacturing of Durable Goods.  These are positive conditions considering the first quarter has faced the adversity of harsh weather conditions and a strong dollar in a weakening global economy.”

The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool.  Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

Historical data for the Cutting Tool Market Report is available dating back to January 2012.  This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.