Zacks Industry Outlook Highlights: Hubbell Inc, Thomas & Betts, WESCO International, W.W. Grainger and Anixter International

Chicago, IL – October 12, 2009 – Zacks.com announces the latest Industry Outlook. Today, Zacks Equity Research discusses the Electrical Products sector, including Hubbell Inc (HUB.B - Analyst Report), Thomas & Betts (TNB - Snapshot Report), WESCO International (WCC - Analyst Report), W.W. Grainger (GWW - Analyst Report) and Anixter International (AXE - Snapshot Report).

The U.S. Electrical Products industry is highly fragmented, with the largest suppliers together accounting for only a small percentage of total sales. Some of the largest players in this market are Hubbell Inc (HUB.B - Analyst Report) and Thomas & Betts (TNB - Snapshot Report), which distribute their own products. Other manufacturers sell through distributors such as WESCO International (WCC - Analyst Report), W.W. Grainger (GWW - Analyst Report) and Anixter International (AXE - Snapshot Report).

The primary factors influencing growth in this market are new construction activity (residential, industrial and commercial), regular repair and maintenance activities, large government construction projects and calamity-driven spending (natural disasters and terrorist attacks). The split between new construction revenue and rehabilitation/renovation revenue is roughly 2:1 in non-recessionary market conditions.

We track the Architecture Billings Index (ABI) for determining the condition of construction markets. The ABI indicates architectural billings, which lag construction spending by around 9-12 months. A score above 50 generally means growth in billings.

The ABI for August 2009 was 41.7, compared to 43.1 in July. The sector-wise breakdown was commercial/industrial (ABI 45.6), multi-family residential (ABI 43.4), mixed practice (ABI 41.4) and institutional, which includes religious and government, (ABI 37.5). The below-50 number for all sectors and regions across the U.S. indicates continued broad-based weakness across all construction markets in the next 9-12 months.

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