Following several months of nothing but relatively good news, this month’s IHEA Executive Economic Summary Report shows some numbers dipping. As Chris Kuehl, the economist behind the report, states in his monthly in-depth analysis, “This month there is good news in bad data and some bad news in the good data. It is not always about whether an index is climbing this month or not. Sometimes it is the overall trend line and how it compares to what it might have been some months ago.”
Every month, Dr. Kuehl, through IHEA, provides not only raw data that is of specific interest to the heat treating industry, but he also provides insightful analysis of what the numbers mean and why readers should care.
The April report showed an increase in roughly half of the index numbers, including a surprisingly strong automobile and light truck sales index which, according to Kuehl, “continues to shock analysts as there is an assumption that the market is already saturated. It seems not to be the case as the consumer still has a desire for new wheels and if the current hike in gas prices accelerates there may soon be a new desire for those fuel sippers.”
Along with auto and truck sales, some of the other indices that also continued to climb were industrial capacity utilization, capital expenditures, and durable goods shipments.
Falling indices included the purchasing managers index, new home starts, and steel consumption.
For a look at the complete report, contact Anne Goyer, Executive Director of the Industrial Heating Equipment Association (IHEA).
