By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods indicator fell a sizable
4.0 points in the June 1 period to 44.6 which is well below 50 to
indicate sizable contraction in year-on-year business activity,
according to the results of MNI’s weekly survey released Monday.
The index is at a recovery low as are sales where growth is
negligible at 1.3% year-on-year. Currency effects are shaving two
percentage points from sales.
Guidance from the sample is increasingly downbeat and points to
only marginal sequential growth for the second quarter.
The sample is increasingly citing troubles in China and especially
in Europe where some are beginning to scale back operations.
Income is -6% year-on-year. Sample size for the period is 315
companies.
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$]
