July 14, 2009

Wholesale Prices Rise 1.8% in June

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

Wholesale prices rose 1.8% in June, seasonally adjusted, according to the Bureau of Labor Statistics of the U.S. Department of Labor. At the earlier stages of processing, prices received by producers of intermediate goods climbed 1.9 percent in June after moving up 0.3 percent in the preceding month, and the crude goods index increased 4.6 percent following a 3.6-percent rise in May.

The June acceleration in finished goods prices was broad-based. The index for energy goods jumped 6.6 percent after advancing 2.9 percent in the prior month, prices for consumer foods increased 1.1 percent following a 1.6-percent drop in May, and the index for goods other than foods and energy rose 0.5 percent in June after edging down 0.1 percent in the previous month.

Before seasonal adjustment, the …

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Fastenal Sales Fall 21.4% in 2Q

Companies, Fasteners, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

The Fastenal Company, Winona, MN, reported second quarter sales of $474.9 million, down 21.4% from sales in second quarter 2008. Profit decreased 42.8% to $43.5 million from second quarter 2008.

For the six months ended June 30, 2009, sales were $964.2 million, down 17.6% from the same period a year ago. Profit declined 36.1% to $92.2 million.

In the first six months, Fastenal opened 42 new stores (compared with 112 new stores in the prior-year period).

Since Dec. 31, 2008, Fastenal has decreased its work force by 1,164, or 8.5%.

The industrial production and non-residential construction businesses were the hardest hit segments. The manufacturing segment – historically 45% to 50% – contracted approximately 28% in the second quarter versus the prior year, primarily in the …

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Report: Weak Growth Possible For Advanced Economies in 2010

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

The worldwide plunge in manufacturing output seems to have reached a temporary bottom, even in countries such as Japan where the industrial downturn was especially severe. Nonetheless, the immediate outlook for a resumption of world economic growth remains tentative and in flux, according to the MAPI Quarterly Forecast of U.S. Exports, Global Growth, and the Dollar: Third Quarter 2009 Through Fourth Quarter 2010.

Weak growth, at best, is in store for the advanced economies during 2010, according to MAPI economist Cliff Waldman.The short-term prospects are mixed for key emerging market economies, depending upon the degree of openness, export diversification, and ties to the United States. The report says that U.S. export demand will contract at an historic pace before …

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More Signs We Are Nearing Recession’s End

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

More signs are appearing that an end to the recession is on its way. Several indicators are inching their way upward, according to the latest Small Business Economic Trends report, released by the National Federation of Independent Business. However, the report also warns that there are bound to be bumps along the road to recovery as the economy reorganizes itself.

The report indicates the labor market is finding a foothold, even if a bit slippery," with forecasts pointing to unemployment declining to 8.8% in the next three months.

Additionally, the credit freeze predicted earlier this year never materialized, and June data indicate the credit market actually may be easing. Obtaining credit is more difficult for small businesses than it was in 2003, but credit patterns are no …

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Open Environment Focused on Learning, Opportunity May Lure Young Talent

Free, Human Resources in Wholesale Distribution, Operations, Subscriber Only / Jenel Stelton-Holtmeier

Salary and benefits are often the first things that come to mind when someone is asked what they look for in a job. But other factors often play as big, if not a bigger, role for some of the younger workers entering the work force. Work environment is one of them.

In a (non-scientific) survey conducted by Modern Distribution Management for a recent article on demographic shifts in distribution, students in industrial distribution programs at two universities were asked: In looking at potential employers, which attributes are most important to you?

Work environment was not one of the top answers – likely because it wasn’t one of the prefilled choices. However, more than half of the people who selected "Other" filled it …

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