The four heat treat industry-specific economic indicators have been gathered by Heat Treat Today each month since June 2023. In previous months, the economic indicators have mostly fallen in the growth column, with a midsummer “calm” in July when most suppliers to the heat treat industry expected contraction in all four categories. However, this month, suppliers are reporting that they anticipate most indicators to grow in August.
The numbers, which were compiled in the first week of August, show that responding parties expect the economy to experience rebounding growth in three of the four indices, settling in each at their highest point since May. The expectation for growth in number of inquiries reveals the most significant jump over July’s responses. Anticipation for growth is also positive for value of bookings and health of the manufacturing economy, the latter with positive expectations falling just above the “neutral” x-axis, indicated by the number “50.” The size of backlog indicator, though improved over July, remains the indicator suppliers anticipate contraction.
The results from this month’s survey (August) are as follows; numbers above 50 indicate growth, numbers below 50 indicate contraction, and the number 50 indicates no change:
- Anticipated change in the Number of Inquiries from July to August: 57.8
- Anticipated change in Value of Bookings from July to August: 56.1
- Anticipated change in Backlog Size from July to August: 49.3
- Anticipated change in the Health of the Manufacturing Economy from July to August: 50.6
Data for August 2024
The four index numbers are reported monthly by Heat Treat Today and made available on the website.
Heat Treat Today’s Economic Indicators measure and report on four heat treat industry indices. Each month, approximately 800 individuals who classify themselves as suppliers to the North American heat treat industry receive the survey. Above are the results. Data started being collected in June 2023. If you would like to participate in the monthly survey, please click here to subscribe.
