Seven of the eleven economic indicators reported monthly by the Industrial Heating Equipment Association’s Executive Economic Summary trended upward while only four softened. Overall industry growth continues to be solid with only a few signs of slowing.
Among the upward movers are vehicle sales, new home starts, steel consumption, capacity utilization, and durable goods orders. These five and two others lead the way with positive growth albeit small movements upward.
The four indices that slumped were PMI, transportation, metal prices, and factory orders.
According to IHEA’s economist, the economy continues to be strong even though many had assumed there would be a more significant softening by this time. Although the southward moving indices are worrisome, the number and persistence of the positive indices lend confidence that the heat treat economy will continue strong in the months ahead.
The full report from IHEA is 12 pages in length and available to IHEA member companies. To see the full report, contact Anne Goyer at IHEA for details on membership in IHEA. Anne Goyer can be reached by email by clicking here. More information about IHEA can be found on the web at www.ihea.org.
