PMPA/ITR Economics Forecast Report November 2021
Enjoy the View- From the Top?
The ITR Economics Report for November 2021 just arrived and six of seven indicators are looking like the top according to their forecasting models. Our latest PMPA Business Trends Report similarly hit an new record of 157 (in 2010, after recovering from the Great Recession, our index was 100).
Slowing growth is on the horizon- and just in time as our shops- and the US economy- simply cannot maintain the current rate of growth. Supply chain issues, as well as labor and other demographics are moderating factors. And factors that will not quickly be resolved. Consumer demand remains strong, so many segments will avoid out right contraction.
There is much you can do to position your shop for success in a slowing growth market environment.
In our shops, building culture, investing in training across all performers, and mastering the current supply chain might be the top three priorities to position for success in the calendar quarters ahead. Why wouldn’t we want our shops to be the preferred place to work, and supplier of precision machined parts- in our zip code?
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.