Abstract : In the first quarter of 2011, the cumulative consumption of machine tools in the United States was $1.204 billion, a significant increase of 118.6% from $550 million in the same period in 2010. The consumption of metal cutting machine tools was US$1.114 billion, up 121.3% year-on-year; the consumption of metal forming and manufacturing machine tools was US$89.86 million, up 89.7% year-on-year. The increase in US machine tool sales in March 2011 exceeded expectations, indicating a good sign of the US economy.
On May 9, 2011, the American Manufacturing Technology Association (AMT) and the American Machine Tool Distributors Association (AMTDA) published the latest statistics on US machine tool consumption.
In March 2011, the number of orders for machine tools in the United States was 2,576 units, an increase of 47.96% from 1,741 units in the previous month and an increase of 99.4% from 1,391 units in March 2010.
In March 2011, US machine tool consumption was $511 million, an increase of 57.6% from last month's $324 million, and a 99% increase from March 2010's $257 million.
In the first quarter of 2011, the cumulative consumption of machine tools in the United States was $1.204 billion, a significant increase of 118.6% from $550 million in the same period in 2010.
In terms of product categories, in March 2011, the orders for metal cutting machines and metal forming machines in the United States were 2,425 units and 151 units, respectively, both of which were significantly higher than last month. Metal cutting machine tool consumption was $476 million, an increase of 59.4% from last month's $299 million and an increase of 111% from March 2010's $226 million. The consumption of metal forming and manufacturing machine tools was $34.69 million, a 37% increase from last month's $25.32 million and a 99% increase from March 2010's $31.07 million.
In the first quarter of 2011, US metal cutting machine tool consumption was US$1.114 billion, up 121.3% year-on-year; metal forming and manufacturing machine tool consumption was US$89.86 million, up 89.7% year-on-year.
AMTDA Chairman Peter Borden pointed out: "In March 2011, the growth of US machine tool sales exceeded expectations, showing a good signal of the US economy."
In this regard, Luo Baihui, secretary-general of the International Association of Molds and Hardware and Plastics Industry Suppliers, believes that this reflects the rebound of the industry and the control position maintained by the US manufacturing industry, mainly due to the US government's increased support, the reduction of tax on some products, and the US dollar. Depreciation also helps companies reduce their export costs. More notably, this is the result of the current operation of many factories that need to purchase capital goods that are still below their capacity, despite the current credit crunch and the problem of increased government debt and potential tax revenues.
Extension of tax exemption for some machine tools in the United States
In August last year, the President of the United States signed the US Manufacturing Improvement Act (HR4380), which would reduce or suspend some of the tariffs that US manufacturing companies must pay when importing raw materials for production. The bill involves the machine tool industry mainly extending the two-year tax exemption period for certain manufacturing equipment until December 31, 2012, such as for processing iron or steel wire, certified for non-highway use, and the diameter of the rim is CNC machine tools and their components for radiant tires of 63.5 cm and above, and CNC shears for radiant tires with non-highway and rim diameters of 63.5 cm and above for shear metal coatings Machine and its parts and so on. These measures can reduce the cost of the company and help to increase its market competitiveness.
On May 9, 2011, the American Manufacturing Technology Association (AMT) and the American Machine Tool Distributors Association (AMTDA) published the latest statistics on US machine tool consumption.
In March 2011, the number of orders for machine tools in the United States was 2,576 units, an increase of 47.96% from 1,741 units in the previous month and an increase of 99.4% from 1,391 units in March 2010.
In March 2011, US machine tool consumption was $511 million, an increase of 57.6% from last month's $324 million, and a 99% increase from March 2010's $257 million.
In the first quarter of 2011, the cumulative consumption of machine tools in the United States was $1.204 billion, a significant increase of 118.6% from $550 million in the same period in 2010.
In terms of product categories, in March 2011, the orders for metal cutting machines and metal forming machines in the United States were 2,425 units and 151 units, respectively, both of which were significantly higher than last month. Metal cutting machine tool consumption was $476 million, an increase of 59.4% from last month's $299 million and an increase of 111% from March 2010's $226 million. The consumption of metal forming and manufacturing machine tools was $34.69 million, a 37% increase from last month's $25.32 million and a 99% increase from March 2010's $31.07 million.
In the first quarter of 2011, US metal cutting machine tool consumption was US$1.114 billion, up 121.3% year-on-year; metal forming and manufacturing machine tool consumption was US$89.86 million, up 89.7% year-on-year.
AMTDA Chairman Peter Borden pointed out: "In March 2011, the growth of US machine tool sales exceeded expectations, showing a good signal of the US economy."
In this regard, Luo Baihui, secretary-general of the International Association of Molds and Hardware and Plastics Industry Suppliers, believes that this reflects the rebound of the industry and the control position maintained by the US manufacturing industry, mainly due to the US government's increased support, the reduction of tax on some products, and the US dollar. Depreciation also helps companies reduce their export costs. More notably, this is the result of the current operation of many factories that need to purchase capital goods that are still below their capacity, despite the current credit crunch and the problem of increased government debt and potential tax revenues.
Extension of tax exemption for some machine tools in the United States
In August last year, the President of the United States signed the US Manufacturing Improvement Act (HR4380), which would reduce or suspend some of the tariffs that US manufacturing companies must pay when importing raw materials for production. The bill involves the machine tool industry mainly extending the two-year tax exemption period for certain manufacturing equipment until December 31, 2012, such as for processing iron or steel wire, certified for non-highway use, and the diameter of the rim is CNC machine tools and their components for radiant tires of 63.5 cm and above, and CNC shears for radiant tires with non-highway and rim diameters of 63.5 cm and above for shear metal coatings Machine and its parts and so on. These measures can reduce the cost of the company and help to increase its market competitiveness.
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