March U.S. cutting tool consumption totaled $197.6 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 (CTMR) collaboration, was up 9.8% from February’s total and up 4.6% from March 2014.

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

“As we close the first quarter of 2015, strong cutting tool shipments in March prove that this year’s economic outlook remains solid for our industry,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “This increase is on track with the positive trend in machine tool orders and durable goods manufacturing. There is a possible caution in the Industry regarding the increasing value of the Dollar and the potential impact on exports.”

The Cutting Tool Market Report 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.

Historical data for the Cutting Tool Market Report is available dating back to January 2012.  This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.