PMPA Business Trends August 2023
Sales for the Precision Machining Industry rebounded up 20 points or 16 percent in August, following the typical July – August recovery pattern we see most years. Our rebound dwarfed the 0.4 percent increase in Industrial Production reported by the FED, and we remain on track to reach our year end forecast- indeed we are with in 2 percent as of this month’s report. Sentiment indicators show Sales and Employment remaining level despite the UAW strike, while Lead Times increased. We’ll let you determine why sentiment for Profitability is down- you would not be far wrong if you looked at Washington DC for that. It is easy to allow ourselves to be overwhelmed by negative news and headlines, but when we put our data in rows and columns, (data from 75 respondents this month) it is telling us that things are still going well for us in precision manufacturing. What does your data tell you?
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