IH Economic Indicators: Three of Four Indices Increase, Remain Over 50
Industrial Heating’s monthly economic indicators for April 2018 remained over 50 for the 17th straight month. Perhaps more importantly, three of the four indices (change in orders, change in backlog, expected change in health) increased from March. Despite a slight decrease from March, the change in the number of RFQs remained at or over 60 for the third straight month. April 2018’s index numbers:
- Change in number of request for quotes from Feb. to March – 60.0
- Change in number of orders from Feb. to March – 57.9
- Change in backlog from Feb. to March – 56.6
- Expected change in the health of the industry through April – 59.5
April 2018’s index numbers reflect the changes experienced by responding companies as they compare their March 2018 business levels to their February 2018 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 May 2018’s Industrial Heating.