CSS Monthly Shipments: October Shipments MtoM Gains Overshadowed by YtoY Declines

NFPA’s October 2019 Confidential Shipments Statistics (CSS) report, a monthly source of fluid power shipment and order data trends that benchmark company performance, identified month-to-month shipments growth when compared to September, but this positive trend shows little effect on year-to-year and year-to-date trends as they continue to decline. The only exception is pneumatic shipments, as its year-to-date percentage remained flat. This overall trend also points out how poor shipments were in September. Experts continue to indicate that inventory liquidation, low fluid power product demand, and foreign trade policy and tariff uncertainty are the major contributors to our industry’s decline.

Preliminary October 2019 shipments of fluid power products decreased 10.1% compared to October 2018 and increased 5.7% when compared to September 2019. Mobile hydraulic, industrial hydraulic and pneumatic shipments decreased when compared to last year and increased when compared to last month.

Final September 2019 shipments of fluid power products decreased 3.6% for the 2019 calendar year when compared to the same time period in 2018. The 12-Month Moving Average (MMA) index of 97.3, an indicator of change in the size of the industry, continues to hover below 100, while the 12/12 Ratio index of 99.2, an indicator of change in the rate of growth in the industry, dipped below 100 for its first time this year. The direction and speed in which these two index indicators move, as well as their position above or below 100, can help you understand the short-term outlook for our industry.

Continue to keep a close eye on your leading indicators to best predict the pace of decline with industry/product trends.

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The Confidential Shipments Statistics (CSS) Program

The only monthly source of aggregated industry data for the U.S. fluid power industry. This report presents data on monthly shipments and orders collected from our membership and helps users understand trends and anticipate change within the industry. Member companies can benchmark their own company’s performance against overall industry performance using the CSS results.  Data is collected from participating U.S. fluid power manufacturers, compiled by a 3rd party to maintain confidentiality, and results are then only sent to CSS participants.

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Questions and inquiries about participating in the Confidential Shipment Statistics (CSS) program can be directed to Eric Armstrong at earmstrong@nfpa.com or (414) 778-3372.

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