By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods index slowed by 3.4
points in the Feb. 24 period to 55.1, still comfortably over breakeven
50 to indicate respectable growth in year-on-year business activity,
according to the results of Market News International’s weekly survey
released Monday.
Guidance from the sample, which numbers 453 companies in the latest
period, points to an extension of the fourth quarter’s modest rate of
growth through the first quarter.
Sales are a year-on-year +5.0% with currency translation having no
effect. Year-on-year income is flat.
Carpet maker Mohawk (MHK) reports accelerating demand for for
commercial carpet and is implementing price increases to recover higher
material costs.
Dynamic Materials (BOOM), which makes explosive metal-working
products, reports rising order momentum with active quoting underway in
the chemical processing, oil & gas, and aluminum sectors.
Century Aluminum (CENX) describes market conditions as volatile and
subject to developments in the European and Chinese economies. The
aluminum products maker warns that rising power costs are a “serious
ongoing challenge” at its U.S. smelters.
Editor’s Note: MNI compiles its capital goods index based on a
weekly sample of company news and data.
** Market News International New York Newsroom: 212-669-6430 **
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