The U.S. Cutting Tool Institute and Association for Manufacturing Technology reported their monthly figures for cutting tool consumption mid August, showing an increase month-to-month, year-over-year and on a year-to-date basis through the first half of 2022.
The latest figures showed that June 2022 U.S. cutting tool consumption totaled $175.9 million, up 0.3% from May and up 2.2% year-over-year. Through the first six months of 2022, a consumption total of $1.1 billion was up 7.9% compared to the first half of 2021.
Read further with Rivet|MRO about how this rise might impact your business!