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Wednesday, February 15, 2012

Factory Activity at Highest Since June 2010 !!!

Factory Activity at Highest Since June 2010 !!!


Ford Assembly Worker in Factory




A gauge of manufacturing in New York State picked up in February to its highest level in more than 1-1/2 years, though the pace of new orders slowed, the New York Federal Reserve said in a report on Wednesday.
The New York Fed's "Empire State" general business conditions index climbed to 19.53 from 13.48 in January, topping economists' expectations for 15.0.
It was the highest level since June 2010. The index has bounced back strongly from a summer slump as the region contracted alongside a broader manufacturing slowdown.
The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.
U.S. stock index futures added to gains immediately following the data, though investors were also focused on efforts by Greece to salvage its needed bailout deal.
"It's better-than-expected and consistent with the idea that the U.S. economy is picking up steam as the year gets started," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.
"The question is whether or not the data will have an impact on the market or take a back seat to developments in Europe. For now the focus is on Europe."
The new orders index slipped to 9.73 from 13.70, while inventories dropped to minus 4.71 from 6.59.
Employment gauges were relatively steady, with the index for the number of employees dipping to 11.76 from 12.09 and the average employee workweek index rising to 7.06 from 6.59.
Manufacturers were slightly less optimistic about the coming months with the index of business conditions six months ahead falling to 50.38 from 54.87.

Tuesday, February 14, 2012

Boeing Secures Largest-Ever Order

Boeing Secures Largest-Ever Order With Lion Air for $22.4B

   

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Boeing (BA: 75.56, +0.71, +0.95%) on Tuesday landed its biggest-ever commercial jet order valued at about $22.4 billion with Lion Air, as demand for its more fuel-efficient aircraft continues to surge.
Indonesia’s largest carrier by passenger volume ordered 230 planes, including 201 of Boeing’s latest passenger jet still in development, 737 MAX, and 29 next-generation 737-900 ERs.
The order is Boeing’s largest by both the dollar amount and number of planes.
The airline will also get purchase rights for an additional 150 aircraft as part of the transaction, Boeing said.
The announcement comes the second day of the Singapore Airshow, where Boeing and its European rival Airbus are competing for new business at a time when airlines are looking to replenish older fleets with more efficient, lighter jets.
The 737 MAX has been Boeing’s best-selling jet. The single-aisle aircraft builds on the next-generation 737 and incorporates the latest-technology CFM International LEAP-1B engines.
The MAX will see a 10% to 12% fuel burn improvement over today’s most fuel efficient single-aisle jets and a 7% operating-cost-per-seat advantage, Boeing says.
The jet maker has already received order and commitments for more than 1,000 airplanes from 15 customers and the next-gen 737 family has won orders for more than 6,600 planes.
Lion Air currently operates or has on order 178 next-generation 737s.
The announcement comes a day after Boeing said development of the MAX was on track and would begin wind-tunnel testing in the U.K. and Seattle starting next week.
Deliveries for the new aircraft are slated to begin in 2017.