ITR Economic Report – August 2020

Apparently our optimism is congruent with theirs.

As voiced in ITR Economics’ most current economic report…“The current downturn was caused by a natural disaster and not by economic fundamentals, which has important implications for the subsequent recovery trend …

Even more encouraging is that the US Personal Savings Rate spiked to record highs, signaling that consumers were able to set aside part of the stimulus money.

Taken together, the aforementioned evidence is cause for measured optimism…

Full recovery is expected to come faster this cycle relative to the Great Recession, which took about five years..”

Read the full August 2020 report below, as prepared especially for PMPA by ITR Economics.

The Institute for Trend Research (ITR) quarterly reports focus on major areas of economic growth and decline in key market segments for the Precision Machined Products Industry. They are provided to PMPA members as part of the association’s overall business intelligence program and are used as a management tool to help PMPA members plan for what lies ahead and which markets they should focus on in a complex manufacturing environment.