Gainers Outnumber Decliners 4 to 1

PMPA’s Index of Sales of Precision Machined Products in January 2011 was 111, its highest level in the thirty-one months since June 2008.

January is up 11% over the 2010 calendar year average.

 

This is contrary to the U.S Industrial Production 0.1% decrease reported by the Federal Reserve yesterday.

http://www.federalreserve.gov/releases/g17/current/default.htm

Since our products are largely ‘built into’ the manufactured goods  that the Fed’s Industrial Production number tracks, we believe that our Sales Index is an indicator of  future continued strength in manufacturing. What we ‘sold’ in January will become part of other manufactured goods for February and March.

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