By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods indicator edged up six
tenths in the March 30 period to a 46.9 level that is still moderately
below 50 to indicate moderate contraction in year-on-year business
activity, according to the results of Market News International’s weekly
survey released Monday.
The sample’s details, like the index, are tracking at two-year lows
with sales at a year-on-year +2.9% and income at -22%. The period’s
sample size is 240 companies.
Shipments for the government’s non-defense capital goods component
have stalled. For the first quarter, MNI’s sample is pointing to no
change from the fourth quarter’s very thin +0.3% rate which is the
recovery low.
China is currently experiencing a slowdown in lift truck shipments
that Cascade warns may last through the year. For the Americas, the
lift-parts maker sees 2012 shipments rising modestly with European
shipments to hold steady.
Chip-tool maker Aehr Test Systems (AEHR) is confident that the
worst is behind for the semiconductor industry. The company cites
specific strength in customer forecasts for capital equipment spending.
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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