Despite Solid October Gain, US Cutting Tool Orders Still Down 22% YoY The president of the US Cutting Tool Institute said October's results show that "at least the bleeding has stopped." Dec 18th, 2020 iStock October 2020 U.S. cutting tool consumption totaled $167.9 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 7.6% from September's $156.1 million and down 22.4% when compared with the $216.4 million reported for October 2019. With a year-to-date total of $1.6 billion, 2020 is down 23% when compared with October 2019. These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.