March 16, 2009

Wholesale Prices Rise 0.1% in February

Economic Trends, Finance, Free, News, Research & Analytics, Subscriber Only / MDM Staff

Wholesale prices increased 0.1% in February, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This rise followed a 0.8-percent increase in January and a 1.9-percent decline in December.

At the earlier stages of processing, prices received by manufacturers of intermediate goods decreased 0.9% in February after falling 0.7% in the previous month, and the index for crude materials declined 4.5% following a 2.9-percent decrease in January.

The slower rate of increase in finished goods prices was led by the index for energy goods, which rose 1.3% in February after climbing 3.7% in the preceding month. Capital equipment prices also moved up less, rising 0.1% after increasing 0.5% in January. The index for consumer foods …

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Canadian Manufacturing Sales Fall 5.4% in January

Economic Trends, Free, News, Research & Analytics, Subscriber Only / MDM Staff

Source: Statistics Canada

Canadian manufacturing sales decreased 5.4% to $41.7 billion in January, falling to the lowest level in almost 10 years. Motor vehicle and motor vehicle parts industries, particularly in Ontario, reported record decreases during the month. Excluding motor vehicles and parts and accessories, manufacturing sales decreased a more moderate 1.2% compared with December.

Constant dollar manufacturing sales, which are measured in 2002 prices, fell 6.4% to $38.1 billion in January. This was the sharpest decrease in constant dollar sales since the current series started in 1997.

At the industry level, sales in 14 of 21 manufacturing industries decreased …

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A New Model Needed in the Steel Industry

Economic Trends, Free, Research & Analytics, Strategy, Subscriber Only / Jenel Stelton-Holtmeier

Steel prices have been wild this past year – from record highs in mid-July to the current barely-breakeven lows. Steelmakers have seen a dramatic decline in demand, with global output sinking about 25% in January and North American output down 50%, according to Reuters. The unprecedented volatility has left many people related to the steel industry wondering where things might go next.

While no one knows that answer, what they can do is prepare for the new economic reality that will come out of this global financial and economic crisis. This was the message presented by Pierre Mangers of PricewaterhouseCoopers Luxembourg at the Handelsblatt Stahlmarkt conference in Germany earlier this month.

Mangers told attendees that the steel industry needs a new …

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ERIKS Acquires German Distributor

Finance, Free, Mergers & Acquisitions, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Dutch holding company ERIKS group has acquired Arnold Frommeyer GmbH & Co. KG, a German distributor of mechanical engineering components for use primarily in sealing technology, fluid technology, maintenance products and tools.

Frommeyer has 15 employees and generates annual sales of €3 million.

The acquisition further expands ERIKS' local presence in Germany, and continues to aid in expanding offered product lines. Frommeyer´s activities will be integrated in the existing ERIKS Germany regional service centre structure. …

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U.S. Housing Starts Up 22.2% In February

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 583,000, 22.2% above January, but is 47.3% below February 2008, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Single-family housing starts in February were at a rate of 357,000; this is 1.1% above the January figure of 353,000. The February rate for units in buildings with five units or more was 212,000.

By region, housing starts in the Northeast were down 44.8% from February 2008; in the Midwest, they were down 45.5%. Starts dropped 42.5% in the South, and the West experienced a decrease of 59.1%.

Permits
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted …

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