The Industrial Heating Equipment Association (IHEA) released its members-only report on 12 economic indicators for the month of August – 3 moving upwards, 3 flat, and 6 dipping slightly. The report, released in on September 15th, reported significant gains in new automotive and light truck sales, steel consumption and one other index.
The September 15th report summarizes economic activity for the month of August which predates hurricanes Harvey and Irma which are expected to cause year-end turbulence in economic reporting. Effects of the hurricanes are anticipated to dowse economic activity in September and possibly into October, followed by a rebuilding boom in the final months of the year into 2018. IHEA reports that the effects of the hurricanes are unprecedented in recent history and will make predicting year-end results very difficult for the thermal processing industry.
The increase in new automotive and light truck sales, as well as the upward tick in steel consumption, are believed to be somewhat tied together and possibly aided by a fear of pending import steel tariffs.
In addition to automotive light truck sales and steel consumption, the monthly IHEA report also covers the following economic indices with professional analysis of their impact on the thermal processing industry specifically:
- New home starts
Source: Google Images from DealerVideoShowroom.com - Industrial capacity utilization
- Metal pricing – gold, aluminum, copper, nickel
- New orders (PMI)
- Capital expenditures
- Durable goods
- Factory orders
- Credit movement
- Transportation activity index
For more information about this report or for a copy of the report, contact IHEA Executive Director, Anne Goyer, at anne@goyermgt.com.
