IH Economic Indicators: Numbers Up; Growth Streak Continues
Industrial Heating’s monthly economic indicators for August 2018 remained over 50 for the 21st straight month. More importantly, three of the four indices increased from July. At 58.0, the change in backlog was at its highest level since March 2012. August 2018’s index numbers:
- Change in number of request for quotes from June to July – 59.6
- Change in number of orders from June to July – 57.8
- Change in backlog from June to July – 58.0
- Expected change in the health of the industry through August – 58.2
August 2018’s index numbers reflect the changes experienced by responding companies as they compare their July 2018 business levels to their June 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 September 2018’s Industrial Heating.