Grbrier Cos.
Output is slowing as companies try to limit inventories amid concern the expansion will slow after automatic cuts in planned federal spending took effect on March 1. Nonetheless, manufacturers such as rail-car maker Greenbrier Cos. (GBX) project an improvement in the second half of the year, a sign business investment is unlikely to retrench.
“The details look pretty weak, but that came after strength in February,” said James O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York, and the second-best industrial production forecaster over the past two years, according to data compiled by Bloomberg. “Manufacturing will certainly continue to grow.”
Lake Oswego, Oregon-based Greenbrier announced first-half results that were ahead of expectations and the company is “looking forward to a solid second half” of the year, Chief Executive Officer William Furman said in an April 4 earnings conference call.
“There is demand out there,” Furman said on the teleconference. “We’re pretty pleased about the quarter’s momentum and the momentum going forward into the third quarter.”
Total industrial production, which includes manufacturing, mining and utilities, climbed 0.4 percent in March as colder- than-normal temperatures drove the biggest gain in electricity and natural-gas use in six years, the Fed’s report also showed.
Article Appeared @http://www.bloomberg.com/news/2013-04-16/housing-starts-in-u-s-surge-on-seven-year-high-for-multifamily.html