PMPA Business Trends April 2022
The April PMPA Business Trends Sales index fell 25 points or 13.8 percent- to its third-highest reading ever of 156. This reversion towards the mean provided some welcome relief- rather than disappointment- as demand for our output remains strong. Overtime was scheduled in seventy-four percent of our responding shops; seventeen percent reported scheduling ten or more hours (25 percent!) overtime.
Sentiment indicators remained positive for the next three months, and the correlation of our average sales for the first four months of the year to the full-year average predicts a very strong year ahead. (As long as we can get needed materials.) The. Demand. Is. There.
If you are not currently participating in PMPA’s Monthly Business Trends reporting, you are missing a great peer benchmark and a tool to provide you with confidence for your business decisions. Contact Veronica Durden to sign up.