The monthly economic report published by the Industrial Heating Equipment Association (www.ihea.org) for its member companies reported that the economy is strong mostly due to tax cuts and deficit (debt) spending and warns of rising prices in the future.
Of the 11 indices that are watched and commented on each month, 5 of them are moving in a positive direction, lead by very strong positive numbers from both the Purchasing Managers Index (PMI) as well as the Credit Managers Index (CMI). Six indices trending downward all moved only slightly downward, leaving economists to believe that the industrial sector may be treading water while the flood waters (literally and figuratively) recede and until the direction of the economy is more clear.
Of more immediate concern was the reason behind the strong economy. According to IHEA’s economist, the economy has responded positively primarily due to tax cuts and deficit spending. Both of these factors tend to result in future broad-based price increases.
The 11-page report has one overview page followed by 10 pages of deep-dive analysis, one page for each of the 11 indices watched.
To get a full copy of this monthly report, please contact Anne Goyer, Executive Director of the Industrial Heating Equipment Association (IHEA). Email Mrs. Goyer by clicking here.
