PMPA Business Trends March 2024
The PMPA Business Trends Sales Index for March 2024 remained elevated and level, softening just 1.3 percent compared to the prior month. All sentiment indicators for Sales, Lead Times, Profitability, and Employment remained level and positive as well. Hours worked remained level. Apparently, much of the volatility has been worked out of our customers’ demand for precision machined components. With three positive months recorded and our forward-looking three-month leading indicators level and positive, we are pleased to listen to the narrative that our data is telling us. (Interesting note- just 5 years ago, in March of 2019, Our sales index hit a new record of 147; today, for March of 2024, we look at 149 as “softening.”)
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.