U.S. Cutting Tool Consumption Up 2.1 Percent in April
While the total is down from last April, the U.S. Cutting Tool Institute explains that it is nevertheless a sign of continued growth.
U.S. cutting tool consumption totaled $175 million in April, according to the Cutting Tool Market Report (CTMR), making for a 2.1-percent rise over March's total and a 3.3-percent drop from April 2013. Tom Haag, president of USCTI, said that April’s results continue to exhibit slow but positive growth: "This is the second consecutive month-over-month increase with three of the last four months netting positive results over the fourth quarter of 2013," he explained.
The report data is compiled from information reported by companies participating in the CTMR collaboration, representing approximately 80 percent of the U.S. cutting tool market. It is jointly produced each month by the U.S. Cutting Tool Institute (USCTI) and AMT—The Association For Manufacturing Technology.
U.S. Cutting Tool Institute, call 216-241-7333 or visit uscti.com.