U.S. cutting tool consumption rises
October U.S. cutting tool consumption totaled $193.6 million, 9.7% higher than September’s total and up 3.3% from October 2013.
The results were released by the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology, in its monthly Cutting Tool Market Report.
The totals represent about 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.”
INDUSTRIAL SUPPLY MAGAZINE
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