The monthly Executive Economic Summary, crafted for the member companies of the Industrial Heating Equipment Association (IHEA), showed that the global economy is slowing but there continue to be signs of potential growth as well. All in all, this month’s report was less optimistic than previous reports, but, to quote the report, “At this point, there is data to support whatever mood you choose to be in.”
Five of the eleven indices were trending upward. Among the positive trending indices were new automobile and light truck sales, steel consumption, metal prices, factory orders, and the credit managers index. All of these indices push upward.
Six of the indices went south, including the Purchasing Managers Index (PMI), capacity utilization, and durable goods. Housing and transportation also were soft.
According to IHEA’s economist, much of what we are seeing is a global slowing of the manufacturing economy. Citing concerns like Brexit and the looming trade war with China, the report indicates that much of what the global manufacturing economy is experiencing is bigger than the U.S.
The 12-page monthly report is comprised of an introductory summary page, and then one page each to analyze, in detail, eleven indices chosen specifically for their impact on the thermal processing market.
To receive a copy of the report, contact Anne Goyer, Executive Director of IHEA.
