PMPA Member Survey - Reports

ITR Economic Report - February 2019

Tuesday February 26, 2019

The ITR Economics report for February 2019 shows that US Industrial Production, up 4.1% during 2018 compared to 2017, is in an accelerating growth trend. The Mining, Electric and Gas Utilities, and Manufacturing sectors of Production were up 12.6%, 4.3%, and 2.7% year over year, respectively. The ITR Checking Points™ system suggests that each sector is either nearing or beyond its business-cycle peak.

The past year was a good year for many businesses. However, avoid being overly optimistic in your planning and budgeting going forward, as the industrial sector and business-to-business activity are expected to mildly decline in the latter half of this year and in early 2020. During that time, Retail Sales are forecast to rise, but at lower growth rates. Expect weaker economic conditions in 2019 to primarily impact commercial construction markets in 2020, given the typical time it takes for changes in the economy to trickle through to long-term construction projects.

See the full report below for all the details.

Brian Beaulieu, CEO of ITR Economics, was a keynote speaker at the 2019 Update Conference in Phoenix in early February.  Check the link HERE for a copy of his presentation!

The Institute for Trend Research (ITR) quarterly reports focus on major areas of economic growth and decline in key market segments for the Precision Machined Products Industry. They are provided to PMPA members as part of the association’s overall business intelligence program and are used as a management tool to help PMPA members plan for what lies ahead and which markets they should focus on in a complex manufacturing environment.