Industrial Growth | First Quarter 2018

May 2018 – During the first quarter, returns for the industrials sector in the equity capital markets contracted, with all but one industry posting slight declines. This comes after robust economic expansion with three consecutive quarters of near 3% GDP growth and consumer confidence at a 17-year peak. The Electronics & Components subsector was the only industry with a positive quarterly return of +1.6%, compared with the NASDAQ index edging a slight quarterly return of +0.8%. Recent trade tariff discussions have added uncertainty and downward pricing pressure in the equity markets. M&A activity for the quarter expanded compared to Q4 2017 with 224 transactions announced versus 189 deals last quarter; deal value lagged at $14.0 billion compared to $15.9 billion last quarter.

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