ITR Economic Report – August 2019

 

 

The Institute for Trend Research (ITR) quarterly reports focus on major areas of economic growth and decline in key market segments for the Precision Machined Products Industry. They are provided to PMPA members as part of the association’s overall business intelligence program and are used as a management tool to help PMPA members plan for what lies ahead and which markets they should focus on in a complex manufacturing environment. 

 

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PMPA Business Trends August 2019

 

“Business Trends Sales Index Up Over Last Month and August 5Year Average- Down Compared to August 2018”

 

With 84 companies responding, the PMPA Business Trends Index for August 2019 continued its rise, at 134, up 2 points or 1.5 percent over last month, up five points or 3.8 percent over June-this year’s low- and up 5 points or 4 percent over the five year average for the index in August. This 134 value is down 9 points or 6.3 percent compared to August 2018, which was tied for highest monthly value in 2018. There were only three months prior to calendar year 2018 where a monthly value came in above 134- March 2105 and 2017, June of 2017. This August value is right at the calendar year average for last year- not a bad spot to be. The 3-month moving average of this sales index continues below the 12-month moving average- indicating that the pace of growth in our industry has slowed. We’ll take slowing growth that is 4% above the prior five years’ average sales for August! Our year to date average remains at 137, up 3 points or 2.3% over 2018’s year-end average of 134. Our sales are up 1 percent year to date.

 

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August 2019  |  Craftsman’s Cribsheet #79

Shop visits are an inevitable part of business today. We have more visitors coming through our shops now than ever before: an auditor to validate a process, a customer representative to ensure you really do have machines, a calibration of testing equipment or community members to learn about potential careers. Here is a checklist to make sure your visitors and your shop have covered everything regarding hazards, safety, security and rules for proper dress and behavior.

 

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