The Industrial Heating Equipment Association (IHEA) released its 12-page monthly Executive Economic Summary which contains an analysis of 11 key heat treat industry economic indicators. The organization has been providing this monthly report as a service to its members for several years, and it is a valuable source of economic data and analysis for companies supplying equipment, components, or consumables to the heat treating industry.
This month’s report was nearly evenly split between the eleven indices, with five moving upward and six moving downward.
According to IHEA economist, Chris Kuehl of the Armada Corporate Intelligence, the underlying concerns about tariffs and trade wars seems to be the primary inhibitor of greater economic growth. While nearly all of the indices are in the “growth” range of their curves, more of them are getting closer to the “contraction” range and could easily slip into contraction with additional dampening economic news.
Three of the five gainers were housing starts, capital investment, and PMI new orders, each showing modest gains.
Among the sliders, new automobile and light truck sales, steel consumption, and capacity utilization.
Generally, downward movements were stronger than upward movements this month, contributing to longer-term concern about a possible slow down in the economy.
To receive a copy of the full, 12-page report, contact Anne Goyer, executive director of IHEA by clicking here.
