The final 2018 monthly economic report from the Industrial Heating Equipment Association (IHEA) was released earlier this month and reveals five indices trending upward and six trending downward. According to IHEA’s economist, the six trending downward are more long-term-looking while the five upward trending indices are more short-term-looking. The report suggests that it would be safe to conclude that the economy is softening and may start to slow in growth before the end of 2019.
Three of the biggest dippers were the Purchasing Managers Index (PMI) which “. . . crashed hard this month,” according to the report, the Credit Managers Index, and the Transportation Index. The full report offers a more complete analysis of these three indices.
Moving in a positive direction were new home starts, capacity utilization, capital expenditures, durable goods, and factory orders.
Each of the eleven indices receives a full page analysis as well as commentary on how the changes in that index may affect the thermal processing/heat treating industry.
To receive a complete copy of this month’s report, contact IHEA Executive Director, Anne Goyer, by email.
