IH Economic Indicators: All Indices Under 50
October 23, 2008
Industrial Heating’s monthly economic indicators for October 2008 failed to show growth in the thermal-processing industry. All four indices were under 50 for the first time since January and for only the second time since August 2003. The change in the number of request for quotes was the highest figure at 48.3. The change in the number of orders (45.9) was at its lowest point since May 2003. October 2008’s index numbers reflect the changes experienced by responding companies as they compare their September 2008 business levels to their August 2008 levels.
- Change in number of request for quotes from August to September – 48.3
- Change in number of orders from August to September – 45.9
- Change in backlog from August to September – 47.0
- Expected change in the health of the thermal-processing industry through Oct. – 45.8