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.
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