PMPA Business Trends August 2024
Rangebound is good. PMPA’s August Business Trends Report for the Precision machining Industry 1) increased 3 points (2.1%) over July 2024; 2) came in just 2 points (1.4%) below August 2023, and 3) was just 1.6 points (1.1%) below August’s five-year average. Sales continue to show strength while remaining in a very tight (9 points for the whole year) range. The year-to-date average for August is just 1 point above the year-end average for 2023 which was our second highest sales year ever recorded! Data-based optimism. PMPA members are continuing to outperform the broader industry, despite the gloom and underperformance that ISM PMI and some of the other indicators seem to show. Our data makes a positive case for our industry, even as we approach the lower sales season of the 4th quarter.
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.