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Both U.S. and Canadian manufacturers experienced a drop in sales in March 2009 according to sales data released by the Power Transmission Distributors Association. Confidence in the market (as measured on a scale of 1 to 10 with 10 being most optimistic) has also eroded, holding a current negative position between 4.6 and 4.9.
Following a negligible increase in sales in February 2009,
manufacturers' sales dropped by 4.2% in March 2009. Compared to the same period last year, sales in March 2009 were down 24.9%. Orders in March 2009 continue to drop with a 7.8% decrease over February 2009 sales.
Canadian manufacturers' sales were down 7.9% compared to February 2009. Sales were down 29.0% when compared to the same period last year.
Sales between February 2009 and March 2009 in specific product categories reflect the change in sales experienced by and Canadian manufacturers. Most product categories for manufacturers posted a decrease in sales.
The Market Outlook Report is published monthly by the Power Transmission Distributors Association. For the full report, visit www.ptda.org/store.