U.S. manufacturers spent $168.69 million on cutting tools in November 2016, according to the Cutting Tool Market Report by the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This was 0.2 percent lower than October’s $168.99 million, but was up 9.3 percent from November 2015's $154.28 million.
2016's year-to-date total of $1.867 billion is down 5.7 percent when compared with 2015.
"Since the November elections, the cutting tool industry has been following the economic indicators and the growing optimism for an improving manufacturing market," said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. "The current monthly shipment numbers are not showing this increase, but we are anticipating improvements certainly by the end of the first quarter. The Cutting Tool Industry is poised and ready to respond to this increased demand."
