News

Americas largest screw distributor: the U.S. industry has been in a recession

Article :Jinan Star Fastener Co,.LTD Add time:2015/12/21 PV:

Some American industry has already been in recession? Bloomberg reported on 4, the S & P Five hundred index trading company and dealers (including Fastenal, WW Grainger Inc. and United Rentals Inc.) so far this year fell 18%, the whole year will record since 1996 a poor record. Fastenal chief financial officer Daniel Florness said in October 13th again in the third quarter earnings conference call, no one knows the current status of the industry more than Fastenal, the industry really has been in recession. Fastenal is the largest screw distributor in the United states.

According to the American Railway Supply Association (RSI) statistics, the third quarter of this year the United States rail car orders, at least 83% to lose the biggest reduction in 27 years. The Carlyle Group (Carlyle Group LP) co-founder David Rubenstein said October 9th Bloomberg Television Interview, since the two World War, the U.S. economy will fall into recession approximately every 7 years, so the next 1-3 years will be history.

American industrial production in September increased by 0.4%, the lowest growth rate since December 2009. The United States Index of mining production of oil and natural gas well drilling 9 monthly index in 2015 45.6416, a record low since July 1999.

Supply Management Association (ISM) released in October 2105, November 2nd U.S. manufacturing purchasing managers' index (PMI) fell to 50.1 from 50.2 in September, a record low since May 2013 (50.1).

The ISM survey shows that customer stock index since 54.5 (since statistics began in January 1997 of the fifth level) to 51, the third consecutive month is too high (Note: more than 50) level, since the last recession the longest record. Metal products industry ranks high on the list of customer inventory.

The world's largest independent professional heavy duty diesel engine manufacturer Cummins (Cummins Inc.) announced in October 27th 2 thousand layoffs. Tom Cummins CEO Linebarger pointed out that the company take the difficult but necessary move, because the main market in Brazil, the China order is currently in the multi-year lows and there is no short-term signs of getting better.

Global industry leader SE CEO Kurt Bock BASF October 27th also pointed out that Brazil and other major markets are mired in recession, China and other markets are also facing the test of growth rate decline.

Other related products

Copyright © 2015.Jinan Star Fastener Co,.LTD. All rights reserved.
Tel:0086-531-87896380 / 87896305 Fax: 0531-87871032/87872040
Group mailbox E-mail:zhangyuhua@starfastener.com
Address:Shandong Ji'nan Ping Pingyin County Street No. 75