PMPA Business Trends June 2021
In June 2021, the PMPA Business Trends Sales Index came in at 148, an increase of 19 points or 14.7% from last month’s 129. This is the second highest month for our sales index ever- down just 4 points or 2.6% from March 2021’s record high of 152. Sales are 76% above the COVID-19 low of 84. Two- thirds of reporting shops scheduled overtime- leading to June’s new record high of 44.5 hours of first shift scheduled. Our shops are clearly leading the broader industrial production sector catch up with demand, as our activity outperformed the Fed’s Industrial Production indicator by a large margin. (14.7% increase month to month for PMPA compared to 0.4% for Fed Industrial Production.) Sentiment indicators for the next three months remained high and positive for Sales, Leadtime, Employment and Profitability.