By Mark Pender
NEW YORK (MNI) – Market News International’s U.S. capital goods
index slipped seven tenths in the Dec. 3 period to 67.1 indicating
strong on-year growth consistent with no better than incremental
quarter-to-quarter growth, according to MNI’s weekly survey.
Sales for the 164-company sample are an on-year +13.9%, about even
with the four-week average of +13.8% and slightly above the 12-week
average of +13.4%. Income, at +33%, is at its highest level in three
months.
Friday’s U.S. international trade report is likely to show a dip in
capital-goods shipments based on October’s 1.5% dip for total capital
goods shipments. Currency effects in MNI’s sample are currently shaving
1% from export sales vs. a 2% haircut in October and November.
Citing shipment and order rates, Cascade (CASC) believes the global
lift-truck market is recovering: “However, it is difficult to predict
with certainty the pace and extent of the recovery.”
Kewaunee Scientific (KEQU) describes the domestic marketplace for
laboratory furniture as healthy and reports the first rise of the
recovery for small and mid-sized orders.
For the first time in the recovery, industrial waterjet maker Flow
International (FLOW) reports consistent orders for standard products.
The company reports strength across all global regions. Yet demand for
its advanced products continues to decline.
Aerostructures maker Spirit AeroSystems (SPR) is shifting workers
from Boeing 787 production. Speculation is building that Boeing, in what
would be very bad news for the capital goods sector, will once again
push back 787 delivery which was last targeted at mid-February.
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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