February U.S. cutting tool consumption totaled $157 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. The total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 1.2 percent from January’s total and down 6.8 percent from February 2013.

These numbers and all data in the report are based on the totals actually reported by the companies participating in the CTMR program. The totals represent about 80 percent of the U.S. market for cutting tools.

“The trend is certainly on an upward climb as incoming orders have indicated a strong finish for the first quarter of the calendar year,” said Tom Haag, President of USCTI.

The Cutting Tool Market Report (CTMR) is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

To read the full release, go to http://www.amtonline.org/newsroom/AMTPressRoom/uscuttingtoolconsumptiondowninfebruary.htm