Precision Machining Industry Out-Performed Industrial Production and Factory Output July 2014

The Precision Machining Industry continues to show solid sales in 2014. The PMPA Business Trends Index for July 2014 rose 3 points  over last month (~2.5%) from 120 to 123. Up 8 points over July 2013. 

According to the Fed, Industrial Production (IP) for July was up 0.4% and Factory Output was up 1%.

Our index out-performed these Fed Benchmarks.

up 8 points over last year, 3 points above last month.

Up 8 points over last year, 3 points above last month.

 

Automotive is a market heavily served by our industry, and the Fed reported Auto Production to be up 10.1% in July.

We believe our  industry’s strong sales performance was a result of the surge in auto production in July.

Forward looking sentiment of respondents for next three months rose for Profitability; leveled off for Sales; while Lead Time and Employment declined.

The July Industry sales was right at the average of industry sales for the year to date.

July garnered  a strong report.

See the July 2014 PMPA Business Trends Report here. 

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