First the good news:
The 2018 July index of 128 is 14.3% higher than July 2017’s 112 value. Our year to date average is 135, up 10 points or 8.0% over 2017’s year-end average of 125. We are at 107% year to date.
And the not so good news?
Well actually it is just that to get to that record high Sales for July, the Index actually dropped 10 points or about 7.3%. from 138 in May & June to 128 in July.
I’m calling it a breather from the feverish year we’ve had so far.
Hours of first shift scheduled dropped by half an hour, a welcome break for the folks in the shop.
Why we’re not concerned about the decline of Sales in July:
The forward looking sentiment for Sales for the next three months actually climbed in July. while all other indicators remained steady.
We’re just taking a bit of a breather.