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Parker Hannifin May Orders Rebound Slightly

Parker Hannifin Corporation, Cleveland, OH, reported orders for May in the company's North American industrial businesses increased 2 percent over the same month last year. Rest-of-World industrial orders were flat over the same month last year. In April, orders for the North American Industrial businesses were flat over the same month last year, while Rest-of-World Industrial orders decreased 7 percent.

In the Climate and Industrial Controls business (CIC) order rates were 5 percent higher, compared with last year. Parker Aerospace reported a 13 percent increase in orders on a rolling 12-months basis.

In the North American Industrial segment, orders remain very strong despite tough year-over-year comparisons. The company continues to note strong demand in heavy-duty truck, construction, farm and agriculture, mining, and oil & gas markets; and continued weak demand in automotive and semiconductor markets. In the Rest-of-World Industrial segment, the company noted weakness in agriculture. In CIC, order results can be attributed to increased demand in refrigeration and air conditioning.

In Aerospace, both commercial OEM and aftermarket orders continue to gain momentum. Defense remains strong.

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