Industry Report Card: U.S. Capital Goods Sector Outlook Holding Up Despite Slowing Economic Growth Sep 06

Standard & Poors, September 2006

Abstract
The U.S. capital goods sector continues to benefit from moderate U.S. economic growth and, to some degree, from stronger growth outside of the U.S. Standard & Poor's Ratings Services expects industry fundamentals to remain favorable for the balance of 2006 and into 2007, particularly for businesses with exposure to late-cycle capital investment demand. The sector recovery started in mid-2003, and capital goods companies continue to experience robust sales and earnings growth. Organic sales growth among bellwether capital goods companies averaged about 9% in the second quarter of 2006, somewhat slower than in the first quarter of 2006 but still relatively robust. The gains have been driven partly by improved price realization, which has covered or exceeded raw material cost increases...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- Caterpillar Inc.
- Crane Co.
- Cummins Inc.
- Deere & Co.
- Dover Corp.
- Eaton Corp.
- Emerson Electric Co.
- Fluor Corp.
- General Electric Co.
- Grainger (W.W.) Inc.
- Harsco Corp.
- Ingersoll-Rand Co.
- Kennametal Inc.
- Parker-Hannifin Corp.
- Rockwell Automation Inc.
- Snap-on Inc.
- Westinghouse Air Brake Technologies Corp.
- Illinois Tool Works Inc.
- ITT Corp.
- Elgin National Industries Inc.
- Milacron Inc.
- Danaher Corp.
- Timken Co.
- Trinity Industries Inc.
- Amsted Industries Inc.
- Park-Ohio Industries Inc.
- Jordan Industries Inc.
- Watts Water Technologies Inc.
- Victor Technologies Group Inc.
- Rexnord LLC
- Thomas & Betts Corp.
- IDEX Corp.
- AGCO Corp.
- TriMas Corp.
- AMETEK Inc.
- SPX Corp.
- Hubbell Inc.
- Terex Corp.
- Day International Group Inc.
- Foster Wheeler AG
- Euramax International Inc.
- Unifrax Corp.
- Pall Corp.
- Kinetek Holdings Corp.
- Hawk Corp.
- Carlisle Cos. Inc.
- Neenah Foundry Co.
- Bucyrus International Inc.
- The GSI Group LLC
- NES Rentals Holdings Inc.
- Mettler-Toledo International Inc.
- Tyco International Ltd.
- Blount Inc.
- EMCOR Group Inc.
- Columbus McKinnon Corp.
- Gardner Denver Inc.
- Neff Corp.
- WESCO Distribution Inc.
- Schuff International Inc.
- Great Lakes Dredge & Dock Corp.
- Norcross Safety Products LLC
- Actuant Corp.
- United Rentals Inc.
- GenTek Inc.
- Motor Coach Industries International Inc.
- URS Corp.
- Pentair Inc.
- Polypore Inc.
- CNH Global N.V.
- Flowserve Corp.
- FastenTech Inc.
- EnerSys Capital Inc.
- JLG Industries Inc.
- Greif Inc.
- Manitowoc Co. Inc.
- The Shaw Group Inc.
- Joy Global Inc.
- Wastequip LLC
- Quanta Services Inc.
- Acuity Brands Inc.
- NMHG Holding Co.
- H&E Equipment Services Inc.
- Cooper Industries Ltd.
- Colfax Corp.
- Kaydon Corp.
- Itron Inc.
- Roper Industries Inc.
- Sensus U.S.A. Inc.
- ERICO International Corp.
- Douglas Dynamics LLC
- Mueller Water Products Inc.
- Ahern Rentals Inc.
- Altra Industrial Motion Inc.
- Xerium Technologies Inc.
- Sunstate Equipment Co. LLC
- Cellnet Technology Inc.
- The Greenbrier Cos. Inc.
- AxleTech International Holdings Inc.
- Revere Industries LLC

Customers who bought this item also bought

• Special Service & Homeland Security Vehicle Manufacturing in North America
• Aerospace and Defense Industry - Global Strategic Business Report
• Global Aerospace Composites Market 2012-2016
• eLEARNING - Global Strategic Business Report
• Global Aerospace and Defense Market 2011-2015
• Competitive Analysis of Industrial Computer Market in India and Taiwan & its Applications in Indian Defence Sector
• Military Microgrids Market Potential
• Aerospace and Defence Industry - Global Strategic Business Report
• The Global Military Infrastructure and Logistics Market 2012-2022 - Competitive Landscape and Strategic Insights: Market Profile
• Commercial And Military Flight Simulation - Global Strategic Business Report