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Manufacturing Contracts in December

Economic activity in the manufacturing sector failed to grow in December following 10 consecutive months of expansion, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The news follows the recent trend, which has been toward slower growth. However, December was apparently a very tough month as New Orders, Production and Employment were all below the breakeven mark of 50%.
Industries close to the housing market appear to be struggling more than others, and those involved in exports seem to be doing better. Slower demand appears to be more of a problem than excessive inventories based on the respondents' comments.
For the full report, click ...

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Avnet Acquires YEL Electronics in Hong Kong

Avnet, Inc. has acquired YEL Electronics Hong Kong Ltd. YEL, which was established in 1992, is a distributor of interconnect, passive, electromechanical and limited semiconductor components in the Asia region, representing more than 30 franchised suppliers.
YEL generated US$200 million of revenue in the 12 months ended December 2007 with over 80% from IP&E products. The company serves 2,000 customers in eight countries in Asia-Pacific. The acquisition also expands Avnet Electronics Marketing's franchised line card with new IP&E suppliers in the region.
Harley Feldberg, president of Avnet Electronics Marketing global, noted that the acquisition is another significant step in Electronics Marketing's strategy to accelerate growth: The IP&E distribution industry in ...

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Construction Spending Up Slightly in November

Construction spending during November 2007 was estimated at a seasonally adjusted annual rate of $1,165.1 billion, 0.1 percent above October, according to the U.S. Census Bureau. The November figure is 0.1 percent below the November 2006 estimate.
During the first 11 months of this year, construction spending amounted to $1,076.2 billion, 2.5 percent below the $1,103.9 billion for the same period in 2006.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $860.7 billion, 0.7 percent below the revised October estimate.
Residential construction was at a seasonally adjusted annual rate of $484.9 billion in November, 2.5 percent below the revised October estimate. Nonresidential construction was ...

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