Resources Connection Inc. Reports Second Quarter Results for Fiscal 2013
Resources Connection Inc. News Release
Resources Connection Inc. reported total revenue of $141.2 million for its fiscal second quarter ended Nov. 24, improving 3.1% (2.4% on a constant dollar basis) sequentially and down 2.6% (1.9% on a constant dollar basis) compared with the prior year’s second quarter revenue. Revenues in the U.S. were up 1.0% sequentially and 2.9% quarter-over-quarter. The company’s net income for the second quarter was $5.9 million.
Demand for U.S. Goods Climbed More Than Forecast in November
(12/21/12) Michelle Jamrisko; Alex Kowalski
Orders for long-lasting goods jumped in November, in data suggesting a surprisingly strong and broad increase in corporate spending, according to a report released today by the U.S. Department of Commerce. Durable-goods orders increased 0.7% in November, and importantly, upwardly revised October’s reading to growth of 1.1% from a previously estimated 0.5% advance. The advance exceeded the median forecast of economists surveyed by Bloomberg that projected a 0.3% rise. Bookings for non-defense capital goods excluding aircraft, a proxy for future business investment, climbed for a second month.
The Conference Board Leading Economic Index for the U.S. Declines
Conference Board News Release
The Conference Board Leading Economic Index (LEI) for the U.S. declined 0.2% in November to 95.8, following a 0.3% increase in October, and a 0.4% increase in September. “The U.S. LEI decreased slightly in November, bringing its six-month growth rate to zero,” says Ataman Ozyildirim, economist at the Conference Board. “The LEI points to increasing risks of slowing economic activity in the near term, but the coincident economic index, measuring current conditions, continued to increase in November. Gains in the residential construction and financial components of the LEI have been roughly balanced with weak consumer expectations, manufacturing new orders, and labor market indicators over the last six months.”
Manufacturing Jobs Making a Comeback in Southern U.S.
(12/20/12) Michelle V. Rafter
Manufacturing picked up steam in the U.S. South with the opening of plants by U.S. and foreign companies in recent years, and in the new year, there are plans for companies to build new plants or expand existing ones in the region. Companies are drawn to the Southeast for its state and local business incentives, convenient transportation routes, lower cost of living, and nonunion and inexpensive labor force. The U.S. Bureau of Labor Statistics indicates that factory jobs are nearing their prerecession levels, with manufacturing employment up 3% in Georgia and Tennessee, 2.9% in Alabama, 2.4% in South Carolina, and 2% in Mississippi during the year-over-year period ending in October, surpassing the average national growth rate of 1.6%.
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