1/30/2013 1:56:00 AM
FIN SURVEY
More than half of fastener businesses — 51% — successfully raised prices in 2012, according to the FIN Survey. Price increases ranged from 2% to 20%, with an average increase of 5.5%.
Just under 12% of respondents achieving price hikes above 7%.
Nearly four in ten respondents — 37% — reported flat pricing for 2012.
But pricing pressure was also evident in the market, as 12% of FIN Survey participants reported price reductions during the year, double the rate of the 6% of businesses cutting prices the previous year. Price reductions in 2012 ranged from 2% to 25%, with an average decrease of 7.9%.
For 2013, 54% of businesses forecast price gains, while 24% anticipate no price changes this year. Of the businesses predicting price hikes, 51% expect “moderate” increases and 3% forecast “strong” gains.
An additional 20% of FIN Survey respondents say they’re “unsure” of pricing in the coming months, while 3% predict a “modest” decrease. ©2013 GlobalFastenerNews.com
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