HEAT TREAT ECONOMIC NEWS

IHEA Monthly Economic Indices — 5 Up, 7 Down

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

Vehicle sales, durable goods orders, capacity utilization, and factory orders were four of the five indices trending upward.

Housing, metal prices, capital expenditures, and the purchasing manager’s index were among the seven indices that suffered in October. According to IHEA’s economist, the most disturbing of the declining indexes is the decline in the Purchasing Manager’s Index, which was more than anticipated. Overall, however, all of the declining numbers are still well above historic averages showing that the economy continues to be strong.

“. . . but it is important to note that even with the declines in some sectors, the overall status of these readings remains higher than it had been in several years.”

~ Excerpt from IHEA’s Monthly Executive Economic Summary

 

The Purchasing Managers Index took a significant dip in October.
The Purchasing Managers Index took a significant dip in October.
Automobile and light truck sales continue to be strong in October.
Automobile and light truck sales continue to be strong in October.

Analysis of all 12 indices is presented monthly to IHEA member companies and is available by contacting Ann Goyer at ann@goyermgt.com or at (941) 373-1830.

Ann Goyer, Executive Director of IHEA
Ann Goyer, Executive Director of IHEA

IHEA Monthly Economic Indices — 5 Up, 7 Down Read More »

Manufacturing Growth at Risk Due to Jobs Growth?

/ HEAT TREAT ECONOMIC NEWS, HEAT TREAT NEWS INDUSTRIES

 

Source: ThomasNet.com

 

Jobs in abundant supply are a great thing, says Anna Wells of ThomasNet.com, and the evidence is in the reports of growing manufacturing and declining unemployment, noting the recent Department of Labor jobs report that job openings outpace unemployed people. But how might this hamper growth within the manufacturing sector and the economy as a whole?

Watch this video from ThomasNet and then click here or on the image below for more on this story.

 

Read more: “Job Vacancies Becoming Manufacturing ‘Crisis’”

 

Manufacturing Growth at Risk Due to Jobs Growth? Read More »

9 of 11 Indices Up in IHEA Economic Report

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

According to IHEA’s monthly economic report to member companies, nine of the eleven indices are up and the only two that are not up are still quite strong. To get the weak indices out of the way, here they are: Purchasing Managers Index (which is still quite high), and the Transportation Activity Index (which also is quite high). Both showed slippage in September, but neither is a focus of worry.

PMI for September showed slight reductions, but is still strong overall.
PMI for September showed slight reductions, but is still strong overall.
Transportation Activity Index was slightly off for September, but still quite strong.
Transportation Activity Index was slightly off for September, but still quite strong.

On the lead page of the report, the following summary paragraph appears:

The nine categories that ended up in positive territory include “new automobile/light truck sales” and this reflects the fact that consumers are still quite confident about their job security and have no issue with taking on debt to buy a new car or truck. The “new home sales” category is healthy, although it is important to note that there is a deepening division between the cities that are seeing growth between 20% and 40% and the those that are shrinking. It has all come down to which cities are generating jobs. The existing home market has not been quite as lively as the new home sector and it is much the larger of the two. The “steel consumption” category is still reflecting the desire on the part of steel consumers to hoard cheaper steel, but there has also been evidence of returning steel demand in everything from vehicles to pipelines to construction activity. The “metal prices” readings are all going up and that has been anticipated for some time. The only one that hasn’t is gold and that would suggest that fewer people are seeking shelter from inflation in this metal. The other industrial metals are all going up in response to increased demand.

The 12-page report goes on to offer in-depth analysis of all 11 indices and what impact each might have on the thermal processing industry. The full report is available for review from the Industrial Heating Equipment Association (www.ihea.org) and is an exclusive benefit of membership in the organization. If you’re interested in seeing a copy of the report, contact Anne Goyer, Executive Director of IHEA at Anne@GoyerMgt.com.

Ann Goyer, Executive Director of IHEA
Ann Goyer, Executive Director of IHEA

9 of 11 Indices Up in IHEA Economic Report Read More »

IHEA Monthly Economic Report: Economy Strong, Rising Prices Predicted

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

 

The monthly economic report published by the Industrial Heating Equipment Association (www.ihea.org) for its member companies reported that the economy is strong mostly due to tax cuts and deficit (debt) spending and warns of rising prices in the future.

Of the 11 indices that are watched and commented on each month, 5 of them are moving in a positive direction, lead by very strong positive numbers from both the Purchasing Managers Index (PMI) as well as the Credit Managers Index (CMI). Six indices trending downward all moved only slightly downward, leaving economists to believe that the industrial sector may be treading water while the flood waters (literally and figuratively) recede and until the direction of the economy is more clear.

Of more immediate concern was the reason behind the strong economy. According to IHEA’s economist, the economy has responded positively primarily due to tax cuts and deficit spending. Both of these factors tend to result in future broad-based price increases.

The 11-page report has one overview page followed by 10 pages of deep-dive analysis, one page for each of the 11 indices watched.

 

 

To get a full copy of this monthly report, please contact Anne Goyer, Executive Director of the Industrial Heating Equipment Association (IHEA). Email Mrs. Goyer by clicking here.

Ann Goyer, Executive Director of IHEA
Anne Goyer, Executive Director of IHEA

 

IHEA Monthly Economic Report: Economy Strong, Rising Prices Predicted Read More »

IHEA Monthly Reports Shows Strong Industrial Activity

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

 

The Industrial Heating Equipment Association’s (IHEA) monthly report for July showed very strong industrial activities.

IHEA report shows that durable goods had a strong showing in July.
IHEA report shows that durable goods had a strong showing in July.

Among the winners were durable goods orders, industrial capacity utilization, factory orders, and capital expenditures. New automobile and light truck sales were also up.

There were, however, some downward moves. Most notably: housing starts took a huge dip, while steel consumption and metal prices both took a dip.

Several indices — the transportation activity index, the purchasing managers index, as well as the credit movement index — were all well above 50, showing continued growth even though several of them revealed minor signs of weakening.

IHEA report showed strong gains in capital expenditures in July.
IHEA report showed strong gains in capital expenditures in July.

A more complete explanation of each index is provided in the full report which is published monthly by IHEA for member companies.

If you’d like to receive a full copy of this 12-page report, contact Anne Goyer, Executive Director of IHEA by clicking here.

Ann Goyer, Executive Director of IHEA
Ann Goyer, Executive Director of IHEA

IHEA Monthly Reports Shows Strong Industrial Activity Read More »

Last Day to Recognize Young Heat Treat Talent

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

 

It’s well documented that there is a brain drain in manufacturing, including in the heat treat industry. Back in April, Heat Treat Today spoke with one company who estimated that up to 60 percent of the heat treat brains in their organization will retire within the next 10 years. Read more here: “One Fix for Heat Treat Brain Drain”

“This is not an isolated case. Baby boomers, who make up the vast majority of today’s heat treat industry brain trust, are beginning to retire and there are not enough metallurgists graduating from North American universities to fill the gap.” ~ Doug Glenn, Publisher of Heat Treat Today

It’s no surprise, then, that dozens of companies are taking advantage of the opportunity to nominate the young talent within their organization for Heat Treat Today‘s 40 Under 40 Class of 2018.

Today (Wednesday, August 15, 2018) is the last day. If you are looking for a way to recognize the young heat treating professional in your circles, Heat Treat Today is here to help. HTT’s 40 Under 40 Class of 2018 will bring prestige and recognition to your key young talent helping with retention appreciated by many Millennials, Gen Xs, and Gen Ys.

Who to nominate:

  • Nominate yourself (good!)
  • Nominate your colleagues (very good!)
  • Nominate your CUSTOMER (excellent!)

MAXIMUM EXPOSURE — Where it will appear:

How to nominate – 2 EASY STEPS:

1. Click the “Nominate” button to the right.

2. Follow the quick, easy instructions.

NOTE:

  • Each nomination should take no more than 5 minutes.
  • Multiple nominations allowed.
  • Nominate your customer and be recognized as their sponsor. Points!!

Nomination Deadline: TODAY, August 15, 2018

 

Questions/More Info:

 

The Editor: Editor@HeatTreatToday.com

 

Last Day to Recognize Young Heat Treat Talent Read More »

IHEA Monthly Economic Report — Stability or Confusion?

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS, MANUFACTURING HEAT TREAT

We begins this month’s economic report with a special request: Please register and attend the International ThermProcess Summit (ITPS) in Atlanta next week, July 30-August 1. This event, sponsored by IHEA, is meant for high-level executives in the heat treating industry including manufacturers with in-house heat treat as well as industry suppliers and contract heat treaters. Click here for more information. Thank you. Now on to our report…

IHEA Transportation Index June 2018
Transportation was up strongly in June. Source: IHEA Monthly Economic Report

This month’s Industrial Heating Equipment Association (www.ihea.org) economic summary report shows sustained growth in nearly all sectors. The report, issued monthly to key executives whose companies are members of IHEA, summarizes approximately 12 indicators determined to be important to the thermal processing market. These indices include metal prices, housing starts, durable goods orders, purchasing managers index, credit managers index, a transportation index, new car & light truck sales, as well as others. The 12-13 page report, provided to IHEA by The Armada Group, IHEA’s exclusive economic advisor, provides not just a summary of the index movements, but an in depth explanation of the factors affecting each index. The report has been a valuable tool for key executives in IHEA member companies.

IHEA Steel Consumption Index
Steel consumption was up significantly in June. Source: IHEA Economic Survey

This month’s report showed an increase in the transportation index, steel consumption, and housing starts. Flat this month were factory orders, durable goods, and capital expenditures, as well as the PMI and industrial capacity utilization. Tariffs, or the threat of tariffs, continue to loom large over the direction of the economy. It is speculated that steel consumption is up strongly due to preemptive purchases, purchases made by many manufactures in advance of what they consider will be significant tariff price hikes.

For a complete copy of the monthly report, please email Anne Goyer.

Ann Goyer, Executive Director of IHEA
Ann Goyer, Executive Director of IHEA

IHEA Monthly Economic Report — Stability or Confusion? Read More »

IHEA Indicies for May: 5 Up; 6 Down — Analysis Available

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

The economic report issued monthly to IHEA member company key executives showed what economists are calling a “transition” month with 5 indices showing an upward trend and 6 showing a downward trend. Among those moving upward: metal prices, capacity utilization, PMI, credit managers index, and the transportation index. Those heading south: auto/light truck sales, new home starts, steel consumption, capital expenditures, durable goods shipments, and factory orders.

This monthly report, which averages 12 pages every month, provides not only useful trending data but also in-depth analysis of each index. IHEA’s proprietary economist provides the analysis with special emphasis on how these movements affect the heat treat and thermal processing industries.

For a full copy of the report, contact Anne Goyer by email (click here), Executive Vice President of the Industrial Heating Equipment Association (www.ihea.org).

Ann Goyer, Executive Director of IHEA
Ann Goyer, Executive Director of IHEA

 

 

 

 

 

 

 

 

IHEA Indicies for May: 5 Up; 6 Down — Analysis Available Read More »

IHEA Monthly Economic Indices: 8 Up; 4 Down

/ FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

Steel consumption, somewhat counter-intuitively, took a significant jump in April despite rising prices.

The rising price of steel along with three other negative moving indices were the only four downward-moving indices in May according to the authoritative monthly report issued by North America’s leading thermal processing equipment manufacturing association, the Industrial Heating Equipment Association (www.ihea.org).

Another negative indicator was the metal price index which reports on aluminum (up slightly), copper (steady), nickel (up slightly), and gold (steady). Given the anticipated and now-imposed steel and aluminum tariffs, it is uncertain what will happen to aluminum and steel prices although the report suggests that steel consumption was up not so much due to demand, but in anticipation of future shortages resulting from tariffs.

The PMI saw its fourth straight monthly decline.

Positive indices included industrial capacity utilization, new home starts, capital expenditures, and durable goods shipments.

Each month, the report details the movements and rationale behind 11-14 metal industry-specific indices. The full report is available to IHEA member companies.

To inquire about the full report, please contact Anne Goyer, Executive Director of IHEA by clicking here.

Ann Goyer, Executive Director of IHEA
Ann Goyer, Executive Director of IHEA

 

IHEA Monthly Economic Indices: 8 Up; 4 Down Read More »

The Future is Here. How Will it Impact Your Business?

/ HEAT TREAT ECONOMIC NEWS, MEDICAL HEAT TREAT NEWS

[button link="www.itps-ifcs.com" size="default" icon="Select a Icon" side="right" target="blank" color="b70900" textcolor="ffffff"]Register Now[/button]

 

A must-attend event for thermprocess and industrial finishing & coatings executives, ITPS/IFCS will provide a unique platform for industry intelligence and collaboration. This two-day Summit will feature two joint general sessions with a total of ten presentations addressing topics of crucial importance to all manufacturing leadership, including:

 

Factories of the Future: What Does the Future Workforce Look Like?
Dr. Irene Petrick, Market Innovation Director, Industrial Solutions Div./Internet of Things Group, Intel Corporation

Industry 4.0, Industrial Internet of Things, the Fourth Manufacturing Revolution, Artificial Intelligence – these terms have quickly become standard manufacturing terminology, but exactly how do they impact your business and your workforce? Dr. Petrick will address what manufacturers can expect on the factory floor as well as changes to their workforce as these once-ideological concepts become today’s reality.

 

 

Trends in Additive Manufacturing
Todd Grimm, Founder and President, T.A. Grimm & Associates, Inc.

The hottest and likely fastest growing industrial technology over the past several years, Additive Manufacturing (AM) pops up in virtually every conversation about advanced manufacturing. AM expert Todd Grimm will offer insights on trends, metal and non-metal applications, and their impact on manufacturing that will assist thermprocessing and finishing business leaders in devising a strategy to leverage, or counter, AM’s impact.

 

 

 

Why I'm Attending: 
“This event is uniquely valuable in the thermal processing and finishing industries to C-level or equivalent people. I’ve found the 2-3 days to be an excellent opportunity to keep up with the latest “mega-trends” and as a refreshing time for thinking outside the box and making exceptionally valuable industry contacts.”

Doug Glenn, Publisher and Editor
Heat Treat Today

 

[button link="www.itps-ifcs.com" size="default" icon="Select a Icon" side="right" target="blank" color="b70900" textcolor="ffffff"]Register Now[/button] Save 25% with discount code ED25C.
Registration discounts are available for IHEA, CCAI, MTI, CECOF, JIFMA, VDMA, Electrocoat Association and WiM members.
To register, or for complete Summit information, including hotel reservations and registration, visit www.itps-ifcs.com.
Please call 941-373-1830 with questions.

The Future is Here. How Will it Impact Your Business? Read More »