PMPA Business Trends August 2022
The PMPA Business Trends Index increased from 154 in July to 173 in August, a gain of 19 points and 12.3 percent. This is our index’s third highest monthly value ever. For the year, our index is up 22 points over 2021 calendar year average, an increase of 15.6 percent. While sentiment indicators suggest softening in the months ahead, our sales index has not dropped below the calendar year average (141) of 2021 in any month of 2022. So, such softening is not unexpected. The combination of all factors discussed in this report makes a persuasive case for an adjustment back toward more typical levels of sales and production in the next three months. The three- and twelve-month moving averages of sales continue to trend upwards on a parallel track.
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