The United States Cutting Tool Institute (USCTI) reported total billings of nearly $168 million among the 43 cutting tool companies included in USCTI's Current Business Report (CBR) for February 2018. The total represents an increase of almost 7 percent over total billings in February 2017, which topped $156 million, and a 6 percent jump compared to total billings of nearly $157 million in February 2016.
In January, USCTI reported total billings of more than $172 million.
USCTI, which surveys U.S. cutting tool companies each month for its CBR index, provided the statistics for the video informational graphic. The Index is calculated as an indicator of market health month-over-month, and currently uses 2012 as its baseline year.