IH Economic Indicators: Indices Fail to Show Growth Month After Setting Record
Industrial Heating’s monthly economic indicators for December 2018 failed to show growth for the first time since December 2016, a streak of 24 months that was the longest such stretch since the study began in April 2002. The change in the number of orders, change in backlog and expected change in the health of the industry all failed to reach 50. December 2018’s index numbers:
- Change in number of request for quotes from Oct. to Nov. – 52.4
- Change in number of orders from Oct. to Nov. – 49.6
- Change in backlog from Oct. to Nov. – 48.8
- Expected change in the health of the industry through Dec. – 49.9
December 2018’s index numbers reflect the changes experienced by responding companies as they compare their November 2018 business levels to their October 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 February 2019’s Industrial Heating.