Thursday, October 29, 2009

Steel Sector Shows New Weakness

From today's WSJ, page B7.

"ArcelorMittal, the world' largest steelmaker by volume and revenue, Wed. said its third-quarter net profit improved from earlier quarters but fell 76% to $903 million over the previous year, because of weak steel demand."

A 76% fall in revenue due to weak demand in steel, the metal of industry and infrastructure, points to continuing economic contraction.

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