PMPA Business Trends Report March 2021
The PMPA March 2021 Business Trends Report showed an increase in Net Sales Indicator of 16.9 percent, to a new record high of 152. Interestingly, the hours of production scheduled increased just 0.6 hour or 1.4 percent.
64 percent of shops scheduled overtime in March. The Business Trends Sales Index outperformed the Federal Reserve’s Total Industrial Production, and manufacturing production indicators for March. Quarter4 2020 to Quarter 1 2021 our Index rose 7.03% while the Fed reported Q4 2020 to Q1 2021 GDP to have increased 6.4% annualized.
The actual performance and forward looking sentiment of our responding shops continues to reinforce our positive outlook for business as long as we can obtain necessary raw materials and supplies.