1/27/2015 8:38:00 PM
FIN SURVEY
The majority of fastener businesses — 54% — successfully raised prices in 2014, according to the FIN Survey, which has been conducted since 1979.
Price increases ranged from 1% to 20%, with an average increase of 4.75%.
Only 34% of respondents reported flat pricing for 2014.
Downward pricing pressure practically disappeared in 2014, as only 2% of FIN Survey participants reported price reductions during the year, down from 11% of fastener companies that cut prices in 2013.
For 2012, 12% of fastener companies reported price cuts.
In 2015, 56% of businesses forecast price gains — up two percentage points from last year — while 21% anticipate no price changes this year and nearly two in ten fastener companies (17%) are “unsure.”
Of the businesses predicting price hikes, all expect “moderate” increases, with no participant forecasting “strong” gains.
Related Stories:
• 2014 Brings Solid Returns for Fastener Companies
• FIN SURVEY – Market Confidence Rises
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