U.S. manufacturers consumed $165.68 million worth of cutting tools during May, a decline of 4.6% from the April total and a 4.1% drop from the May 2015 result. Cutting tool consumption is an index to overall manufacturing activity.
Cutting tool consumption is tracked by the U.S. Cutting Tool Institute (USCTI) and AMT – the Association for Manufacturing Technology in the monthly Cutting Tool Market Report (CTMR.) The report includes data from a majority of the cutting-tool manufacturers and distributors in domestic manufacturing. As cutting tools are a primary consumable product involved in the production process for multiple industrial sectors, the report provides an up-to-date index to U.S. manufacturers’ overall activity.