The PMPA Business Trends report for May 2015 showed a second month of declines from our all time high in March.
With 84 companies responding, the PMPA Business Trends Index in May continued its descent to 121, a 7 point decline
from April, which was itself a 9 point drop from the record of 137 in March. This was our first April to May decline since 2010.
Our three month moving average remains above the 12 month moving average, which supports the idea that demand is leveling.
When the 3 month Moving Average crosses the 12 month moving average, we take that as a convincing indication that the demand has in fact
“significantly changed.” (Compare dark orange to shaded orange lines on the graph below)
Sentiment was down slightly in the areas that we measure, but we are not wringing our hands.
Full report available here.