(AMT: McLean, VA) -- September 2023 U.S. cutting tool consumption totaled $201.4 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 collaboration, was down 8.1% from August’s $219.2 million, and up 4.3% when compared with the $193.1 million reported for September 2022. With a year-to-date total of $1.85 billion, 2023 is up 8.1% when compared to the same time period in 2022.

The numbers and data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.

“The third quarter and September data for 2023 indicate that manufacturing output is still strong based on cutting tool data,” says Jack Burley, chairman of AMT’s Cutting Tool Product Group. ”In some regions, however, consumption has flattened compared to 2022, while other regions have increased due to the primary mix of industries they support. Overall activity is reasonably good and should continue into the fourth quarter.”

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