The U.S. Cutting Tool Institute and Association for Manufacturing Technology reported August U.S. cutting tool consumption totaled $166 million, down 2.7% from July’s total and down 3.0% from August 2013.

“August has traditionally been a period of slower sales for the cutting tool industry due to summer holidays and automotive model change-overs,” said Tom Haag, president of USCTI. “The three-month rolling average actually shows the sales as fairly steady throughout the summer. The third quarter should close much stronger with September bringing the industry back to full speed and the IMTS exhibition driving new interest with record attendance.”