PMPA Business Trends October 2022
The PMPA October Business Trends Index pivoted toward softening in October, with Sales, Leadtime, and Profitability all to the negative. Sentiment for Employment remained level. While our sales index for October is down 6.4 percent from September, it is the highest ever for the month of October, up 7 percent from the previous high, and up 16 percent from the five-year average for the month of October. Our sales index has not dropped below the calendar year average (141) of 2021 in any month of 2022.
For the year, our index is up 23 points over 2021 calendar year average, an increase of 16 percent. In April, we predicted a “gangbusters year with the calendar year average coming in at 159.” Our year-to-date average of 164 is six points or three percent higher than our April prediction.
As you enjoy the Thanksgiving holiday with your family and loved ones, your business’s high level of sales and performance this year will be an important addition to your Gratitude List.
If you are not currently participating in PMPA’s Monthly Business Trends reporting, you are missing an excellent peer benchmark and a tool to provide you with confidence for your business decisions. Contact Veronica Durden to sign up.