PMPA Business Trends July 2020
With 79 companies responding, the PMPA Business Trends Index for July increased 39.3% to 117 compared to the year’s low in April of 84. It came in up 4.5% above June’s 112 value. This 117 value is down just 2.8 points or 1.4% from the 5-year average for July of 119.8. Our shops’ 4.5% increase in July compared to the Federal Reserve’s reported increase of 3.0% in industrial production- and compared to the reported 3.4% increase for manufacturing output- shows that our precision machining shops continue to recover faster than the broader manufacturing industry.