U.S. Cutting Tool Consumption Up 9.7% in October
February 1, 2015
October U.S. cutting tool consumption totaled $193.6 million, according to the U.S. Cutting Tool Institute (USCTI) and The Association For Manufacturing Technology (AMT). "This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 9.7% from September's total and up 3.3% from October 2013," said an association spokesperson.
These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. These totals represent approximately 80 percent of the U.S. market for cutting tools.
"October 2014 has given some indication that we have turned the proverbial corner in the cutting tool industry," said Tom Haag, President of USCTI. "Sales volume has recorded the best month in over two years going back to March 2012, and four of the last five months have outperformed 2013. The increased sales immediately after IMTS in Chicago have created a momentum that has continued to swell into the fourth quarter."
For more information contact:
AMT
7901 Westpark Drive
McLean, VA 22102-4206
703-893-2900 / 800-524-0475
amt@amtonline.org
www.amtonline.org
USCTI
1300 Sumner Ave.
Cleveland, OH 44115-2851
216-241-7333
uscti@uscti.com
www.uscti.com
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