The Doldrums are “a belt of calms and light baffling winds north of the equator between the northern and southern trade winds.” Apparently our industry’s Sales are on a cruise…With 83 companies responding, the PMPA Business Trends Index in July declined 8 points to 120, 3 points below July 2014’s value.
Comparing year to date to 2014, we are still up 3 points over same period in 2014. The average for the year remains at 126, up 6 points and 5% over that of last calendar year. This is modestly below our forecast of finishing the year up 6.6%, but allowing for month to month variability and season, we are not gnashing our teeth.
Interestingly, sentiment for Sales outlook for next three months rose in this July report.
The Doldrums appear to have arrived early this year.
Sentiment for Sales for the next three months was our only positive indicator, sentiment for Lead time remained the same, while Profitability, and Employment indicators declined.
Full report available here: July 2015 PMPA Business Trends