Market: Cutting Tools & Accessories / Laser / Machining & Material Removal Processes / Metalcutting Machine Tools
25 May 2016
With 82 companies responding, the PMPA Business Trends Index in April 2016 declined 9 points or 6.8% to 122, a point above last year’s full year average, reported Precision Machined Products Association. 122 also happens to be the average for the Business Trends Index Year to date. The March – April decline matches that of last year which was also 9 points or 6.6%. The average for the year to date is up one point above last year’s full year average, which bodes well for the balance of the year for industry sales. (The first four month’s sales correlate well with final calendar year average for this index.) The 3 month moving average continues to climb vs. the 12 month moving average, another positive sign of strengthening sales.
The FED’s Industrial Production (IP) index increased 0.7% in April after decreasing in the previous two months. Manufacturing output rose 0.3% after declining the same amount in March. Capacity utilization for manufacturing increased 0.2 percentage point in April to 75.3%, a rate that is 3.2 percentage points below its long-run average.