The 2020 Mid-Year Economic Update_long

Day: May 15, 2008

Canadian Manufacturing Sales Fall 1.6% in March

Source: Statistics Canada
Canadian manufacturers gave back some of their recent gains in March as factory sales retreated 1.6% to $49.0 billion.
The scope of March's slowdown was extensive as 18 of the 21 manufacturing industries, representing 76% of total sales, posted declines. A sharp downturn in motor vehicle manufacturing was the chief contributor.
Sales were down 7.7% compared with the peak level of $53.1 billion set in March 2007.
Manufacturing activity falters during the first quarter
In the first quarter of 2008, manufacturing sales fell 5.5% to $143.8 billion compared with the same period one year earlier. The ongoing slump in the auto ...

Industrial Production Falls in April

Industrial production declined 0.7 percent in April after having risen 0.2 percent in March. Manufacturing output fell 0.8 percent in April.
As was the case in March, factory output in April was held down by a large drop in the index for motor vehicles and parts; strikes and strike-related parts shortages resulted in suspended production at many facilities.
Excluding motor vehicles and parts, manufacturing production fell back 0.4 percent after having increased 0.3 percent in March.
In April, the output of utilities rose 0.3 percent, and the output at mines decreased 0.8 percent. At 111.2 percent of its 2002 average, overall industrial production was 0.2 percent above its year-earlier level.
The rate of capacity utilization for total ...

ITW Sales Grow 11.5%

Illinois Tool Works Inc., Glenview, IL, reported operating revenue increased 11.5% for the quarter ended April 30, 2008. Growth in revenues was primarily due to contributions from translation and acquisitions.

By segment:
Industrial Packaging +14.9%
Power Systems and Electronics +8.9%
Transportation +11.5%
Construction Products +2.7%
Food Equipment +25.1%
Polymers and Fluids +27.8%
Decorative Surfaces +3.3%
All Other +8.6%
Above numbers include base revenues, acquisitions/divestitures and currency translation.
With $16.2 billion in revenues, ITW is a diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of 825 business units in 52 countries and employs some 60,000 ...

Rexel Organic Growth at 3.1% in 1Q

Rexel reported 3.1% organic growth (on a constant and same-day basis) for the first quarter 2008, with profit up 27.2% from the year-ago period.
Sales in the first quarter were €2.5 billion, compared with €2.4 billion a year ago.
Sales were up 3.7% in Europe, led by Northern Europe and the United Kingdom. North America had growth of 1.2%. In Asia-Pacific, growth was 8.2%.
In the quarter, Rexel completed its acquisition of Dutch distributor Hagemeyer ...