FIN Survey Indicators for 2009

Jason Sandefur

The End of 2008 FIN Survey of the Fastener Industry uncovered some key indicators for 2009:

Fastener Prices More than four in 10 fastener companies plan price cuts in the first six months of 2009.

Raw Material Prices About five in 10 manufacturers expect raw material prices to drop, while 28% see stable prices.

Sales Nearly 41% forecast declining sales in the coming year, while 25.7% anticipate stable sales and 28.5% expect their business to sales in 2009.

Profits More than 43% predict profit declines for 2009, while 21.5% expect profits to remain “about the same” and 27.1% foresee increased profits.

Costs About 41% of companies anticipate cost declines. Nearly 35% of survey participants expect costs to stabilize in 2009, with 13.9% anticipating a “moderate” cost increase.

Employment The number of companies planning to add jobs in the coming year plunged to 13.9%, while 38.9% intend to trim their payroll.

Capital Investment A 47.2% majority of companies will lower their current rate of capital spending in 2009, while 31.9% anticipate no increases and 12.5% plan to boost investment.

Pay Raises Just under 48% plan to boost pay an average rate of 3.1%, while 33% will keep wages unchanged.

Operating Capacity Manufacturers anticipate operating capacity slipping to 65.4% in the coming months. �2009 FastenerNews.com