The four heat treat industry-specific economic indicators, gathered by Heat Treat Today each month since June 2023, indicate expectations for economic growth in May compared to what suppliers experienced in April. However, while growth is still expected, it appears that most suppliers are more tame in their projections for growth across most indicators.
The numbers, which were compiled in the second week of May, show that responding parties strongly anticipate all four indices — number of inquiries, value of bookings, size of backlogs, and health of manufacturing economy — to grow. Again this is growth as is compares to the previous month (April). One specific indicator does stand out, though: Manufacturers are expecting significant growth in number of inquiries.
The results from this month’s survey (May) 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 April to May: 61.5
- Anticipated change in Value of Bookings from April to May: 56.8
- Anticipated change in Backlog Size from April to May: 52.7
- Anticipated change in the Health of the Manufacturing Economy from April to May: 55.9
Data for May 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.
