PMPA’s 2021 December Business Trends Report and End-of-the-Year Summary Released
The PMPA December 2021 Business Trends Sales Index came in at 138, the highest December value ever, and unseasonably high. That 138 was 10 points (or 7.8 percent) higher than December 2020’s value, and 22.5 percent higher than the five- year average for the index for the month of December.
While December sales were down 6 points (or 4.1 percent) from November’s levels, they still contributed to a strong finish, resulting in the Calendar year average sales to be 141. This 141 exceeded our April 2021 prediction of 137 for the year. A surprisingly positive reading considering the events of the year- ongoing uncertainty due to Covid-19, tariffs, and supply chain difficulties.
If you are not currently participating in PMPA’s Monthly Business Trends reporting, you are missing a great peer benchmark and a tool to provide you with confidence for your business decisions. Contact Veronica Durden to sign up.
According to the Bureau of Economic Analysis, real Gross Domestic Product(GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.3 percent.
The U.S. economy rebounded very strongly in 2021, with real GDP coming in at 5.7%. Compare that to the 3.4% decline in 2020. The current forecast for 2022 is ~4.3% growth.
New Orders for Durable Goods fell 0.9% from a record $270.1 billion in November to $267.6 billion in December, according to the Advance report from the US Census. The decline in the headline number was due to decreases in aircraft and parts orders. However, excluding transportation equipment, new durable goods orders increased 0.4% in December.New orders have jumped 12.7% over the past 12 months, or 11.9% with transportation equipment excluded.
AccuRounds and North Easton Machine Company win MMAP Grants
The Massachusetts Manufacturing Accelerate Program (MMAP), awarded over $2M to 13 manufacturers in Massachusetts. The grants were announced by Housing and Economic Development Secretary Mike Kennealy and were managed by the Center for Advanced Manufacturing at MassTech Collaborative (CAM). The MMAP grants will be used by the Massachusetts manufacturers to invest in infrastructure, funding projects that create partnerships between the companies and manufacturing-focused organizations in the state. PMPA members AccuRounds and North Easton Machine Company, Inc. were each awarded grants.
FEBRUARY 15 – 2PM (EST) APPI Energy 101
APPI Energy reviews the services they provide, from electricity and natural gas procurement to their full suite of energy efficiency and sustainability solutions. REGISTER NOW!
FEBRUARY 17 – 11AM (EST)
Verifyle Pro – Practical Uses for Security-Conscious PMPA Members Learn how to put Verifyle’s ultra-secure messaging, document sharing and storage, and electronic signatures to use for your business. This proven and easy-to-use PMPA benefit will increase the security of your communications while raising your sense of awareness about what’s occurring on the receiving side of your communication. Get started at no-charge. REGISTER NOW!
2022 Membership Dues Renewal
Our thanks to the companies who have renewed their PMPA membership for 2022 – we thank you for your trust in us to provide you with the information and resources to help your company adapt and thrive!
If you have not submitted your renewal…(Primary and Billing Contacts) can do so here: MEMBERSHIP RENEWAL
PMPA and YOU – Better Together!
2022 Hourly Wage Survey
There is still time to submit your 2022 Hourly Wage Survey. We are still accepting completed surveys. Please email Veronica Durden at gro.apmp@nedrudv if you plan to participate but need more time.
Also remember the final report is only made available to those who participate, so please take the time to complete and submit it.
PMPA’s New Final Cut of the Week
The Final Cut of the Week video series is now underway! This series is a two-to-three minute video sharing information you may have missed while you were busy making essential parts. Look for a new edition every Friday on PMPA’s LinkedIn and Twitter feeds.