PMPA Business Trends March 2022
The PMPA Business Trends Index increased dramatically by 29 points or 19 percent to 181 from February’s 152- which was, itself, our index’s second highest level ever. The increase in sales was NOT a result of increased hours of work- indicating that inflation of costs could be a likely factor. Our Sales Index performance in March dramatically heralds a pivot and perhaps a top in our manufacturing activity going forward. Inflation, not Units produced, seems a likely explanation for the parabolic increase in our Sales Index in March. Stay alert to anticipating and overcoming supply and sourcing challenges. Note- Due to the dramatic outperformance of the Index to history- over 3 standard deviations above 4 year average- we took extra steps to validate the submitted data. Over 69 percent of respondents reported double or triple- digit sales increases in March 2022.
If you are not currently participating in PMPA’s Monthly Business Trends reporting, you are missing a great peer benchmark and a tool to provide you with confidence for your business decisions. Contact Veronica Durden to sign up.