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.