According to the U.S. Cutting Tool Institute and AMT – The Association for Manufacturing Technology – July U.S. cutting tool consumption totaled $177.5 million. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 6% from June’s total and down 5.6% from July 2014.

“Caution is the condition of the month as we note the flat to declining cutting tool market performance.  Changing currency values coupled with low oil prices support these conditions, with an outlook for improvements in the fourth quarter,” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group.