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MARKETS WORLDWIDE * Europe - Businesses fear, recovery will remain timid
Villeneuve-la-Garenne,France -AP, by EMMA VANDORE -11 Nov 2009: -- From his upstairs office, Jerome Frantz can hear the delivery trucks as they rumble into the yard of the auto parts business his grandfather founded 90 years ago... In better times, each day Frantz would have as many as 60 big trucks pulling into the forecourt of Frantz Electrolyse just outside Paris, loaded with metal parts to be heat treated and coated in a protective covering... But demand for auto parts fluctuates with the fortunes of the auto industry including major customers such as Renault SA and PSA Peugeot Citroen SA — and then with little warning. The summer was weak, but September and October saw a slight pickup, with as many as 35 trucks rolling up each day... Now Frantz is counting only 25 on a good day... (AP Photo/Christophe Ena: Workers at the family run metal protection specialist Frantz Electrolyse in Villeneuve-La-Garenne, outside Paris, Monday, Nov. 9, 2009. When times were booming, as many as 60 large truck loads could pull into the forecourt at Villeneuve-La-Garenne. Now it's more like 25)* USA - Survey: Transport CFOs Pessimistic on Recovery, Hiring. Only 22 percent expect to add to payroll in next six months
New York,NY,USA -The Journal of Commerce Online, by William B. Cassidy -Nov 12, 2009: -- Financial executives at transportation companies are more pessimistic about the economy than their counterparts in other businesses, and few plan to hire workers in the next six months, according to a survey by research firm Grant Thornton... Even fewer expect their headcounts to decrease in the next six months, reflecting sweeping cuts that have already been made at transporters from ocean shipping lines to trucking companies over the past year... Only 22 percent of the transportation executives interviewed by the research firm said they will increase hiring in the next six months, compared with 24 percent for all businesses included in the survey... More than half the transportation executives, 53 percent, said they expected economic conditions to be about the same in six months, compared with 41 percent of all respondents... A majority — 69 percent — expected pricing to be about the same as well, with only 25 percent of the executives at transportation companies expecting rates to climb, and they were slightly more optimistic than the CFOs overall who answered the survey... The economy will pull out of the recession in the second half of 2010, 41 percent of the transportation executives said, while 34 percent expect the recession to end in the first half of the year. Only 6 percent expected the recession to last into 2011 or longer...Labels: market prognosis
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