Heat Treat Economic Indicators: July 2024 Results

The four heat treat industry-specific economic indicators have been gathered by Heat Treat Today each month since June 2023. Through the first half of 2024, the economic indicators have shown that suppliers to the heat treat industry have expected growth across all four indicators, with numbers in June remaining in the “growth” category in three out of four heat treat industry indices. This month, suppliers are reporting that they expect indicators to reflect a midsummer calm; contractions are anticipated with some falling just below neutral.

The numbers, which were compiled in the first week of July, show that responding parties anticipate indices to reveal contraction, but the expectation for contraction is minimal for number of inquiries and value of bookings, both settling just below the “neutral” x-axis, indicated by the number “50.” Backlogs and overall health of the manufacturing economy are expected to shrink, with the backlog indicator falling below our neutral axis for the second month in a row. This is the first month that suppliers anticipate contraction across the board since data started being collected in June 2023.

The results from this month’s survey (July) are as follows; numbers above 50 indicate growth, numbers below 50 indicate contraction, and the number 50 indicates no change:

Anticipated change in the Number of Inquiries from June to July: 48.0
Anticipated change in Value of Bookings from June to July: 48.5
Anticipated change in Backlog Size from June to July: 44.6
Anticipated change in the Health of the Manufacturing Economy from June to July: 43.8

Data for July 2024

The four index numbers are reported monthly by Heat Treat Today and made available on the website.

Heat Treat Today’s Economic Indicators measure and report on four heat treat industry indices. Each month, approximately 800 individuals who classify themselves as suppliers to the North American heat treat industry receive the survey. Above are the results. Data started being collected in June 2023. If you would like to participate in the monthly survey, please click here to subscribe.

Find heat treating products and services when you search on Heat Treat Buyers Guide.com

Heat Treat Economy Continues Strong Per IHEA Monthly Report

April 29, 2019 / FEATURED NEWS, HEAT TREAT ECONOMIC NEWS

Of the eleven economic indices reported on monthly by the Industrial Heating Equipment Association for the benefit of its member companies, four of the indices showed upward growth while only a few dropped significantly. All others remained relatively unchanged.

The four upward trending indices included PMI New Orders, Automobile and Light Truck Sales, Metal Prices, and the Credit Managers Index. The IHEA report, supplied monthly to IHEA member companies, goes into detail on the significance of these upward movements dedicating one full page of the report to each of eleven indices.

Indices not faring so well included Capital Expenditures, Durable Goods Orders, Factory Orders, and Home Starts. Most of the non-positive moving indices saw only slight decreases.

For a full copy of the report, contact Anne Goyer, Executive Director of the IHEA by clicking here.

IHEA Annual Meeting Kicks Off in Florida

Leaders from the heat treating and thermal processing industry are meeting this week at Lido Beach Resort in Florida, USA. This three-day industry meeting, organized by IHEA, attracts leaders from heat treat furnace manufacturers, heat treat component suppliers, and providers of heat treating supplies and consumables. This year’s meeting features discussions on heat treating and cybersecurity, an update on the impact of Washington’s policies on the heat treating industry, as well as an in-depth look at the above mentioned economic indices from IHEA’s economist.

Registration Open for NFPA 86 Update Seminar

IHEA Lido Beach Resort Spring Meeting April 2019

IHEA’s next educational event will be an NFPA 86 Update Seminar being held on May 14th from 9:00-3:00 at the Fabricators & Manufacturers Association in Elgin, Illinois. For more information, contact Anne Goyer, Executive Director of IHEA by clicking here.

Heat Treat Economy Continues Strong Per IHEA Monthly Report Read More »

Economic Summary Report