IH Economic Indicators: Three Numbers Show Growth
Industrial Heating’s monthly economic indicators for March 2016 took another step in the right direction. Three out of the four indices were over 50, showing growth. Perhaps more importantly, those same three numbers increased from last month. In addition, the change in the number of request for quotes was at its highest level since October 2014. March 2016’s index numbers reflect the changes experienced by responding companies as they compare their February 2016 business levels to their January 2016 levels. March 2016’s index numbers:
- Change in number of request for quotes from January to February – 54.3
- Change in number of orders from January to February – 51.0
- Change in backlog from January to February – 47.5
- Expected change in the health of the industry through March – 50.2
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 April 2016’s Industrial Heating.