Cutting Tool Consumption Fell in September for Third Straight Month

U.S. machine shops’ and other manufacturers’ consumption of cutting tools declined in September for the third consecutive month, totaling $171.09 million, down 2.3% from the August total, but nearly even (-0.1%) with the September 2015 result.The data is drawn from the monthly Cutting Tool Market Report, compiled from totals reported by companies who represent the majority of the U.S. market for cutting tools. The U.S. Cutting Tool Institute (USCTI) and AMT – the Association for Manufacturing Technology issue the report each month as an indicator of the scope and trend of overall manufacturing activity, noting that cutting tools are the primary consumable product for manufacturing, meaning that cutting tool consumption is a reliable leading indicator of activity in that segment of the industrial economy.