June U.S. cutting tool consumption totaled $155 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 6.6 percent from May and down 12.8 percent from the June 2012 level of $195 million. The reported year-to-date total through June 2013 was $1,014 million, down 8.2 percent from shipments levels for the same period in 2012.

These numbers and all data in this report are based on the totals actually reported by the companies participating in the CMTR program. The totals here represent about 80% of the U.S. market for cutting tools.

“We didn’t expect the first half softness of 2013 as recent activity was at some of the best levels since 1998.” said Dave Povich, USCTI’s President. “What is promising is that the first half of the year outpaced the second half of 2012 and we believe manufacturing is on a modest upswing for the remainder of 2013.”

While this is the first release of the Cutting Tool Market Report, historical data is available for the program 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.

To read the full press release with data charts, click here.