As our headline indicates, there are two very different market experiences being reported by our members in the October PMPA Business Trends Report.
Of this month’s 89 respondents, 65 reported increased sales, with 53 of those 65 reporting double digit gains.
Of the 24 respondents reporting sales declines, over half (13) reported double digit declines.
In aggregate, those reporting increased shipments carried the day, and our index, to a new high of 125 for October.
Dr. Ken Mayland posited in our August Report that his “Inventory Dynamic Indicator had turned to be positive for manufacturing.”
This is the second consecutive month of data supporting his view.
Half of all shops reporting are scheduling overtime, and the outlook for employment remains positive at 96% of respondents expecting employment to remain the same or improve over next three months. Prospects remain positive for precision machining according to our report.