“Davidson” submits:
CAB hit new high this week, the earnings surge predicted by this index 14mos ago in US Industrial Sector is being reported today.
Firms such as Chart Inds are providing insight to how strong the recovery has been from the 2014-2016 Industrial Recession which occurred as a result of the strong US$. The US$ further weakened overnight and hit new 2yr lows. US Industries which export should continue to reflect earnings surprises.
From Chart Inds 2Q17 Press Release:
“E&C orders increased 70% over the first quarter of 2017, driven by natural gas demand in both petrochemical and LNG export projects. Specifically, order and quotation activity related to equipment for cryogenic gas plant development has generated eleven related orders year-to-date compared to zero in 2016. Natural gas demand is driving new gas transmission pipelines in West Texas and the Northeast Marcellus shale creating additional opportunity for air cooled heat exchangers. Distribution & Storage (“D&S”) orders increased 12% over the first quarter of 2017, driven by strength in Asia LNG applications for on-site power generation and LNG distribution, as well as continued strength in the U.S. packaged gas for use in the industrial gas, medical supply, LNG vehicle tank and beverage CO2 applications.”
