IH Economic Indicators: Indices Continue Decline; Two Show Growth
Industrial Heating’s monthly economic indicators for July 2014 showed a decline in all four indices from June’s numbers. Two indices, however, remained over 50, showing growth. The change in the number of orders was over 50 for the third straight month, while the change in backlog showed growth for the fifth time in six months. July 2014’s index numbers reflect the changes experienced by responding companies as they compare their June 2014 business levels to their May 2014 levels. July 2014’s index numbers:
- Change in number of request for quotes from May to June – 48.7
- Change in number of orders from May to June – 51.5
- Change in backlog from May to June – 50.9
- Expected change in the health of the industry through July – 45.4
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 August 2014’s Industrial Heating.