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In November 2008, US machine tool consumption fell by 50% year-on-year
According to the statistical report of the American Machine Tool Sales Association (AMTDA) and the American Manufacturing Technology Association (AMT), in November 2008, the machine tool consumption in the US market totaled 1.8557 million US dollars, down 34.7% from the same period in October and compared with the same period last year. A drop of 51.4%. Machine tool consumption in the United States reached US$400,431 trillion in January-November 2008, a 2.8% year-on-year increase compared to 2007. Peter Borden, president of AMTDA, pointed out, 'The consumption of machine tools has exceeded 2,000 units per month for three consecutive years, but now it has dropped to a low level. In fact, it has not experienced such a low value since January 2004 and January 2005. 'We're not optimistic that there will be high growth in the future unless the new administration brings new confidence to the U.S. economy.'