PMPA Business Trends April 2023
The PMPA monthly Business Trends Report for April dropped 17 percent to 140, the second highest level for April ever. Typically the Index declines between March and April on average by about 10.8 percent, so this decline was an overachievement. That said, the 140 value for April 2023 is up 10.8 points or 7.7 percent above the five-year average for April, and down just one point from the calendar year average for 2021, our second highest year ever.
Sentiment indicators were unsettled in April, except for Employment which increased in April, with 92 percent of respondents expecting employment to remain level or increase for the coming three months.
While the size and direction of the Sales index and Sentiment indicators are larger than expected, we see them as “within expectations,” considering how long and how high our sales activities have been for the past couple of years.
PMPA members can also view the 2023 calendar year sales forecast. Driven by a powerful correlation to sales, this forecast will give you some mooring for your expectations as we go through what is certain to be a high volatility, high uncertainty year in our markets.
If you are not currently participating in PMPA’s Monthly Business Trends reporting, you are missing an excellent peer benchmark and a tool to provide you with confidence for your business decisions. Contact Veronica Durden to sign up.