The four heat treat industry-specific economic indicators gathered by Heat Treat Today each month since June 2023 reflect the highest expectations for economic growth that we’ve seen. For this month of February, suppliers to the industry have particularly high expectations for one indicator.
The numbers, which were compiled in the second week of February, show that responding parties strongly anticipate inquiry levels and value of bookings to grow; it will be interesting to see if expectations for number of inquiries will increase at the same rate in future months. Industry suppliers are also expecting backlogs and overall health of the manufacturing economy to be up this month.
The results from this month’s survey (February) 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 January to February: 71.0
- Anticipated change in Value of Bookings from January to February: 65.5
- Anticipated change in Backlog Size from January to February: 59.0
- Anticipated change in the Health of the Manufacturing Economy from January to February: 57.9
Data for February 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.
