Buyers even more optimistic
By Staff -- Purchasing, 3/11/1999
SUPPLY CONTINUES TO LOOSEN, BUYERS REMAIN OPTIMISTIC. No buyers report material availability as tight this month, and 42% report loose availability--the highest percentage since September of 1986! Tight availability dropped three points from last month, while loose availability rose by 13.Buyers are also increasingly optimistic about 1999. The number of buyers forecasting better business ahead pushes up again (five points this month) to 51%. That's the first time over 50% since last March. The number predicting worse conditions is level at 14%, but those predicting stable conditions fell by five points.
There are some rumblings in inventory strategies, as the number reducing inventories falls by nine points to 29%--the lowest since last June. Those raising inventories inches up by only one, to 21%. Despite favorable pricing on many major materials, and optimism about business ahead, the largest percent of buyers (67%) are keeping stable or reducing inventories.
Buyers increasing capital spending took an eight-point fall from last month, down to the lowest figure since June of 1997. Those reducing capital spending only increased by three, but that's still the highest since January of last year.
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