By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods index fell 3.1 points in
the Jan. 14 period to 66.0, a level indicating still very strong
year-on-year growth but a dip that underscores a challenging outlook for
the fourth quarter, according to Market News International’s weekly
survey.
Year-on-year sales are slightly stronger than trend at +12.9%.
Income for the period’s 106-company sample is steady at +22%.
Guidance and trends from the sample point to no significant
quarter-to-quarter change in activity and no major surprises for
December.
Lighting maker Acuity Brands (AYI) sees no momentum ahead for
non-residential construction though it does see growth opportunities in
renovation and tenant improvements. The company warns that rising input
and freight costs will squeeze profits this quarter.
Clarcor (CLC), which makes industrial filters, reports 6% on-year
growth in its U.S. heavy-truck market vs. 50% growth in its Chinese
market. Guidance points to similar growth rates for 2011.
Packaging products maker AEP Industries (AEPI) sees another year of
high-single-digit sales growth, the bulk of which is cost pass through.
But not all costs are being passed through reflected in the company’s
quarterly loss.
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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