By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods index rose 2-1/2 points
in the January 21 period to 68.5 indicating still very strong
year-on-year growth but no significant quarter-to-quarter or
month-to-month change, according to Market News International’s weekly
survey.
Year-on-year sales are unchanged at +12.9%. Income for the period’s
124-company sample is steady at +24%.
The sample’s moving averages show no significant change pointing to
a flat quarter for nondefense capital goods shipments and to no monthly
surprises for related data in Thursday’s durable goods report.
Shipments of nondefense capital goods totaled $65.0 billion in both
November and October and were $65.1 billion and $65.2 billion in the two
prior months.
A $65.0 billion result for December would put quarter-to-quarter
change at -0.5% and would break a string of five positive sequential
readings going back to second-quarter 2009.
The $65.0 billion result would put the year-on-year rate at +7.5%,
down from the third quarter’s +10.3% and the second quarter’s +7.7%.
Nearly 50 capital goods producers will be issuing statements ahead
of Thursday’s durable goods report, perhaps offering hints on rates of
change and perhaps affecting expectations for fourth quarter business
investment.
Diversified industrial manufacturer Crane (CR) will be posting data
later today along with additives & intermediates producer Albemarle
(ALB). A statement from Boeing (BA) is set for Wednesday.
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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