Cutting Tool Demand Up Again on Manufacturing Expansion

U.S. manufacturers’ cutting-tool consumption rose to $183.61 million during January, an increase of 4.9% from December, and up 6.1% from January 2017. The results continue to demonstrate expanding manufacturing production for machine shops and similar operations, as cutting tools represent “a primary consumable in the manufacturing process,” according to the U.S. Cutting Tool Institute and AMT – the Assn. for Manufacturing Technology, which present the monthly Cutting Tool Market Report.

The CTMR is based on the figures reported by participating companies, and represent the majority of the U.S. market for cutting tools.