PMPA Business Trends March 2024

The PMPA Business Trends Sales Index for March 2024 remained elevated and level, softening just 1.3 percent compared to the prior month. All sentiment indicators for Sales, Lead Times, Profitability, and Employment remained level and positive as well. Hours worked remained level. Apparently, much of the volatility has been worked out of our customers’ demand for precision machined components. With three positive months recorded and our forward-looking three-month leading indicators level and positive, we are pleased to listen to the narrative that our data is telling us.  (Interesting note- just 5 years ago, in March of 2019, Our sales index hit a new record of 147; today,  for March of 2024, we look at 149 as “softening.”)

 
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.

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PMPA Business Trends February 2024

In February, PMPA’s Business Trends Sales Index achieved it’s third consecutive increase. Our shops outpaced the Federal Reserve’s Industrial Production indicator, and sentiment indicators for Net Sales, Lead Times, Employment and Profitability remained positive. Our data continues to make a positive case for the next three months for our shops. Listen to the data!

 
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.

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Thursday, May 30, 2024
1pm – 4pm Eastern
Courtyard Boston Marlborough
75 Felton Street
Marlborough, MA 01752

Join us for networking and problem-solving at the PMPA New England Chapter Suppliers Expo 2024. Take this opportunity to learn about new solutions from PMPA Technical members as they showcase their products and services that can help your shop be more productive and profitable.

This is a great opportunity for your team to meet with these technical experts one-on-one!

FLASH SALE | Free Registration Until Noon on Thursday

Cost | $10 per PMPA Member | $15 per Non- PMPA Member

 

Registration Includes | Food and Exhibits

REGISTER TODAY

 

 

EXHIBITORS

 

PMPA Business Trends January 2024

Our January 2024 data shows a strongly positive start for our precision machining shops. Our December 2023 Business Trends Report surprised to the upside. In January 2024- the positivity continues with sales higher than the Fed’s industrial production report, and forward-looking sentiment remaining elevated and level. All other forward-looking indicators-  Lead Times, Employment, and Profitability moved upward into positive territory as well. PMPA’s data is very positive for the next three months for our shops. Listen to the data!

 
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.

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PMPA Business Trends December 2023 Year End Review and Summary

 

The PMPA Business Trends Sales Index surprised to the upside at 144 for December, with a six point or 4.4% gain over November’s 138. That 144  is up 15 points or 11.6% over the 5-year average for December Sales. Our Sales index  was down just 3.7 percent from our April forecast. Positive sentiment indicators for both Sales and Lead Times make a very strong case for business positivity for the first quarter of 2024.

 
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.

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PMPA Business Trends November 2023

 

The PMPA Business Trends Sales Index declined modestly to 138- a 3 point or 2.1 percent decline- from the October value of 141. We believe that our leveling thesis is still valid. Our YTD average of 146 has held for the second consecutive month. This month’s 141 is the third highest level of sales recorded for November by our reporting. It is 4.2 points or 3.1 percent above the five-year average (133.8) for November. Our sentiment indicators remained level, except for Profitability for the next three months which improved by 9 percent over the prior month. A special postscript takes a look at an impressive trend in Labor utilization for our precision machining shops.

 
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.

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PMPA 2024 Holiday Time Off Report

 

The 2024 Holiday Time-Off surveys have been compiled and calculated, and the 2024 Holiday Time-Off Reports are attached. Our thanks to the 79 member companies who completed and returned a survey.  Please remember that the results of the survey indicate which 2024 holidays those companies plan to offer their employees off with pay.  It does not indicate which, if any, holidays they may offer off, without pay.

The 2023 Holiday Time-Off Reports will be available for reference throughout the year on the Reports page of the PMPA website.

 

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PMPA Business Trends October 2023

 

The PMPA Business Trends Sales Index remained steady as she goes at 141 for the second consecutive month in October, confirming the leveling trend we suggested was coming. This month’s 141 is the fourth highest level of sales recorded for October by our reporting. The data show leveling and a measured impact resulting from the uncertainty that our shop management is facing with geopolitics, price inflation, gridlock in Washington D.C., difficulty finding skilled workforce, and the UAW strike. The data tells us to remain calm. We are level percent month over month. We are on track for our third best year ever for Sales dollars!

 
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.

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PMPA Business Trends September 2023

 

PMPA’s September Business Trends Report  shows that our industry sales are leveling, and our shops are making rational, measured adjustments to maintain their capabilities and profitability.  Despite all of the uncertainty in our markets, we remain on track for our third best year ever for Sales dollars! Only outlook for Employment prospects softened in September. The data shows PMPA shops are doing a great job of managing in the current environment.

 
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.

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PMPA Business Trends August 2023

 

Sales for the Precision Machining Industry rebounded  up 20 points or 16 percent in August, following the typical July – August recovery pattern we see most years. Our rebound dwarfed the 0.4 percent increase in Industrial Production reported by the FED, and we remain on track to reach our year end forecast- indeed we are with in 2 percent as of this month’s report. Sentiment indicators show Sales and Employment remaining level despite the UAW strike, while Lead Times increased. We’ll let you determine why sentiment for Profitability is down- you would not be far wrong if you looked at Washington DC for that. It is easy to allow ourselves to be overwhelmed  by negative news and headlines, but when we put our data in rows and columns, (data from 75 respondents this month) it is telling us that things are still going well for us in precision manufacturing. What does your data tell you?

 
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.

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