PMPA Business Trends August 2021
PMPA’s August Business Trends Sales Index remains elevated at its second highest level ever!
In August 2021, the PMPA Business Trends Index came in at 149, now the index’s second highest month of Sales. This 149 value for August 2021 is up 20 points or 15.5 percent from the five year average (2016-2020) for August of 129.
Overtime, measured by Hours of first shift scheduled remained high while dropping just 0.1 of an hour from 44.4 to 44.3 in August. Sixty-six percent of responding shops scheduled first shifts greater than 45 hours in August. Industrial Production (IP) as reported by the FED is up and above pre-pandemic levels. PMPA shops are reporting second highest levels of sales ever. Congruence. Our shops’ output remains elevated, and we are clearly key to helping the broader industrial production sector catch up with demand.
Our performance and sentiment indicators this month justify our continued optimism about the markets and employment prospects for our precision machining industry going forward in 2021. This report reflects both a current and ongoing positive reality for our precision machining shops, and the Industrial Production markets we serve. Our industry continues to do yeoman work to meet the challenges that we continue to face regarding supply, workforce recruitment, and inflation.
Is this the Top? Are these the good ol’ days?