NO RECESSION IN PRECISION MACHINING! (only two consecutive months of declines.)
With 81 companies responding, the PMPA Business Trends Index for January 2020 rebounded to 139, up 26% over December 2019.
Down just 2% from January 2019’s record of 142, up 3% over January 2018, and up 7.8% over the five-year average for the January index.
This is a repeat of last January’s strong performance, and should help you understand that the sluggish performance in the last quarter of 2019 was due to seasonal factors, as well as to assignable causes in our largest markets served- the UAW strike at GM and the ongoing issues at Boeing.
(The Boeing story remains on the front page of the Wall Street Journal- Boeing Plans More Relief for Suppliers– February 24, 2020).
NO RECESSION IN PRECISION MACHINING! (only two consecutive months of declines.)
And by the way, we outperformed the Fed’s Industrial Production Manufacturing Index by a huge margin!
The Fed reported that Industrial Production (IP) “declined 0.3 percent in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft. The index for manufacturing edged down 0.1 percent in January; excluding the production of aircraft and parts, factory output advanced 0.3 percent.”
Recession? Not even.
Success-ion? Well, it depends on how you manage. The numbers show a very positive outlook. Be positive. The facts support you.