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Tool demand slows, up over '03
Industry groups said Oct. U.S. machine tool demand was $234.44 mil, up 46.5% vs. a year ago. That's down 38.9% from Sept., when demand neared a 4-year high. Demand for such tools, used to shape car engines, TVs and other goods, are up 42.6% for the year. The industry wants Congress to extend the 50% expensing allowance for machine tools, part of last year's tax relief bill, set to expire at year's end.
** U.S. Treasury yields will rise next year on firm economic growth and modest inflation as the falling dollar stabilizes vs. the euro, said a Bond Market Association survey.
China to tax textiles in PR move