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PMPA / ITR Economics Forecast Report November 2023


Slowing growth is the current status and outlook according to ITR’s latest PMPA member’s only report. US Housing starts were the only industry segment showing recovery, one of the few positive signs for future business for our shops. Core macroeconomic indicators are already in slow growth, and the outlook for 2025 appears to be  one of contraction, so a plan to muddle through is likely a positive one given these facts.

The purpose of these ITR forecasts is to help you anticipate your plan for how to get your business positioned for the inevitable (and eventual) recovery. “what did you wish you had done differently during the last downturn?” Plan on doing THAT in 2024.



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.