The 2020 Mid-Year Economic Update_long

Day: November 14, 2007

Wholesale Prices Rise 0.1% in October

Wholesale prices rose 0.1 percent in October, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This increase followed a 1.1-percent advance in September and a 1.4-percent decline in August.&nbsp ;
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At the earlier stages of processing, prices received by manufacturers of intermediate goods inched up 0.1 percent in October after rising 0.4 percent in September, and the crude goods index increased 2.4 percent following a 0.1-percent gain in the previous month.
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Among finished goods, prices for consumer foods moved up 1.0 percent in October following a 1.5-percent increase in the prior month. The index for energy goods decreased 0.8 percent after rising 4.1 percent a month earlier. The index for goods other than foods ...

Concrete Product Supplier Sales Down in 3Q

Dayton Superior Corp., Dayton, OH, provider of specialized products for the non-residential concrete construction market, reported sales for the third quarter ended Sept. 28, 2007, were $131 million, down from $132 million in the prior-year period. Profit was $386,000 versus a net loss of $342,000 in the previous year.

Sales of Dayton Superior's concrete construction-related products increased 4% to $112 million, stemming both from higher selling prices and higher unit volume. Equipment rental revenues decreased 10% to $15 million and revenues from sales of used rental equipment also declined, both reflecting a lower level of non-residential construction activity, particularly in Florida, and in the Baltimore/Washington and Philadelphia metropolitan areas.

For the ...

Textron Completes Purchase of United Industrial Corp.

Textron Inc., Providence, RI, has completed its purchase of United Industrial Corp., a supplier to the aerospace and defense systems markets through its subsidiary AAI Corp. The total value of the transaction was $1.1 billion.
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UIC will become a wholly owned subsidiary of Textron.
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Textron Inc. is an $11 billion diversified company operating in 32 ...

Air-powered Tool Supplier Reports 6.1% Fall in Sales

P & F Industries, air-powered tool and hardware manufacturer, reported sales for the quarter ended Sept. 30, 2007, were $30.3 million, down 6.1% from the same period a year ago. Profits from continuing operations were down to $343,000 from $1.5 million in the prior-year period.

The ongoing decline in new housing starts continues to adversely impact our businesses, particularly in the southern and western regions of the nation," said President and CEO Richard Horowitz.

"In addition to this sluggish economic sector, our overall third-quarter revenues were negatively affected by competitive pressures and rising raw material prices. We maintain our belief that our hardware business should return to more profitable levels once the housing market recovers."

P & ...