Jack Burley News Today

Demand for cutting tools slipped as Q1 ended, and while YTD order volumes remain ahead of last year, persistent inflation is discouraging some manufacturers from moving forward...

The March total, however, was off compared to last year.

The total suggests that an expected decline "will not be as severe" as some projections.

After 11 months of activity, year-to-date consumption rose above $2.25 billion, with aerospace and automotive markets reportedly continuing to work through order backlogs.

Through 11 months, orders were 7.5% higher compared to the previous year.

Orders were up 8% through the first three-quarters of the year.

Orders through the first seven months of the year were up more than 9%.

Orders were up more than 16% over the first four months of the year.

The March total was up 15% year-over-year.

Although modest increases could be attributed to inflation, officials said new orders remain "at a good level."