Five interesting things that Hodges Capital research analysts discovered this week...
#1 RESHORING REALITY: According to a Deloitte survey of large U.S. manufacturers, 62% have started reshoring activities to build a more resilient supply chain in the wake of Covid, the Ukraine War, and China uncertainty. As a result, an estimated 350,000 U.S. jobs were added in 2022 due to reshoring.
#2 AUTO SALES: 2022 was the worst domestic new vehicle sales year in more than a decade. Cox Automotive estimates that 13.8 million new vehicles were sold last year, reflecting a year-over-year decline of 8.5%.
#3 TOYS: Adults now make up a growing share of the U.S. toy industry. According to NPD data, adults over 18 now make up $5.7B, or 14% of toy sales in the U.S.
#4 NEARSIGHTEDNESS: Recent data presented by Bausch and Lomb at the JP Morgan Healthcare Conference suggest an alarming rise in myopia or nearsightedness due to phone and computer screen use.
#5 STEEL PRICING FIRM: A survey by Morgan Stanley of U.S. steel producers, distributors, traders, and end users indicated that 100% expected finished steel prices to remain steady or increase in January from December, and 73.7% were neutral or bullish on future pricing trends beyond January.
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