Fairval

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Ordex moving up

Posted by fairval on February 27, 2010

Wisdomsmith Orderbook Index (ORDEX)

The capex cycle is rising again, as shown by Ordex. The Oct-Dec period has seen investment demand return as seen here. The cycle had slowed down in the  Jun-Sep’09 period, when the construction and industrial orders had slowed down. It was largely the power sector orders which kept it going.

Now, once again there appears to be all round growth. Lets see how strong the growth is. The current capex cycle, which is on since 2004 peaked in Jun 2007 when growth rate in orderbooks was more than 50% yoy.

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