IH Economic Indicators
IH Economic Indicators: Two Indices Over 50, Two Under
Industrial Heating’s monthly economic indicators for December 2019 saw two indices fail to show growth. The good news is that the change in the number of request for quotes was over 50, showing growth, for the 40th straight month. The change in the number of orders and the change in backlog, however, were at their lowest levels in over three years. December 2019’s index numbers:
- Change in number of request for quotes from October to November – 52.6
- Change in number of orders from October to November – 47.9
- Change in backlog from October to November – 45.8
- Expected change in the health of the industry through December – 50.6
December 2019’s index numbers reflect the changes experienced by responding companies as they compare their November 2019 business levels to their October 2019 levels. A number above 50.0 indicates increased activity or growth. A number below 50.0 indicates decreased activity or a decline in growth. Look for these numbers, along with historical values, in January 2020’s Industrial Heating.