FIN SURVEY

Costs moderated last year as the global economy sought footing to stage a recovery. Nearly 50% of survey respondents claimed costs dropped in 2009, while 35.3% said costs were stable. Just over 16% of fastener companies participating in the FIN Survey reported moderate to strong cost hikes.

The FIN Cost Index dropped for the third year in a row, falling 27% to 2.55 – lower than the previous record low of 2.8 set in 2001.

However, costs may be on the rise, with just under 40% of fastener companies forecasting a moderate increase in 2010. More than 48% anticipate stable costs, with 12% expecting costs to drop this year.

For 2010 the FIN Cost Index is projected to jump 25% to the 3.2 level recorded in 2002 and 2003 but remain below 2008’s mark of 3.5. ©2010 GlobalFastenerNews.com