Each month, FPDA publishes the Key Economic Indicators report prepared by Cleveland Research. Many members participate, but even more can do so. We urge you to review this report and respond when contacted for data. Only a few minutes of your time are required to participate. Here are the highlights of the April Report:
FPDA Index – The March FPDA Index produced a reading of 63.6, up from February’s reading of 62.9. This indicates the fluid power industry expanded at a slower pace compared to February. The broader ISM index showed a reading of 53.4 in March, up from the February reading of 52.4.
Sales Growth – On average, sales grew 13% in March compared with 22% growth in February. By group, distributor sales slowed from 24% to 16% while manufacturer growth slowed to 10% from 19% in February. The slower growth appears to be impacted by strong growth in March of 2011 (more difficult year-over-year comparisons).
2012 Outlook Unchanged – Fluid power distributors and manufacturers are forecasting 14% growth on average for 2012. This is a touch better than the February average of 13% and in line with the January average.
To read the full report, please click here.