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Alcoa Inc (AA) Financial News - Manufacturing in Philadelphia Fed Region Expanded in July

Alcoa Inc (AA)

Manufacturing in Philadelphia Fed Region Expanded in July

Quote: “High unemployment, a weak housing sector, and the deficit standoff in Washington all continued to dampen consumer sentiment here in the U.S.” Alcoa, the largest U.S. aluminum producer, last week said second-quarter profits more than doubled after higher prices outweighed increasing raw-material costs. Klaus Kleinfeld, chairman and president of the New York-based company, said on a teleconference. “We expect a healthy year-on-year global growth and we expect the U.S. sales volume to bounce back to the first quarter levels later this year.” bwillis@bloomberg.net cwellisz@bloomberg.net ...
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