The four heat treat industry-specific economic indicators gathered by Heat Treat Today each month since June 2023 each reflect expectations for economic growth in the month of January, with suppliers to the industry predicting a particularly significant swing in expectations for one of the indicators as compared to December 2023.
The numbers, which were compiled the second week of January, show that responding parties anticipate that the number of inquiries will grow significantly, an increase from extreme contraction that was expected in shows an increase in expectations for growth from expected contraction in December. The backlogs indicator continue to reflect anticipated growth, slightly down from December. The overall health of the manufacturing economy indicator is up, especially when compared to December, with growth expected. This is the 8th month of data collection, so keep following this study as this bank of information builds.
The results from this month’s survey (January) 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 December to January: 58.3
- Anticipated change in Value of Bookings from December to January: 58.9
- Anticipated change in Backlog Size from December to January: 54.3
- Anticipated change in the Health of the Manufacturing Economy from December to January: 53.7
Data for January 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.
