By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods indicator fell 1.4 points
in the April 6 period to 45.5, further below 50 to indicate slightly
deeper contraction in year-on-year business activity, according to the
results of Market News International’s weekly survey released Monday.
Year-on-year results are all at roughly two-year lows including
sales at +2.3% and income at -29%. The period’s sample size is 200
companies.
For nondefense capital goods shipments in the first quarter, MNI’s
sample is pointing to no significant sequential change from the fourth
quarter’s recovery low rate of +0.3%.
Weakening demand in Europe and slowing demand in China are commonly
cited as major headwinds as is the year-on-year currency effect which is
at -1.0% for sales vs +4.0% in the fourth quarter.
Editor’s Note: MNI compiles its capital goods index based on a
weekly sample of company news and data.
** MNI New York Bureau: 212-669-6430 **
[TOPICS: MDUCG$,MT$$$$,M$U$$$,M$UEQ$,MAUDS$]