NFPA’s Econ and Market Indicators (EMI) report pulls together data from multiple sources to provide the latest trends for:
- Customer Markets (U.S. Census Bureau)
- Economic Indicators (U.S. Census Bureau)
- Industrial Production (Federal Reserve)
- Capacity Utilization (Federal Reserve)
- Producer Price Index (Bureau of Labor Statistics)
Oxford’s Monthly Industry Briefings contain the latest developments for eleven major industries around the globe with short industry briefs provided by Oxford Economics. These two-to-three-page briefs include a short-written summary, output/trend graphs, and an output table.
Highlights between the two on a few industries focusing on the United States include the following:
- Aerospace
- EMI indicates that in February, aerospace products and parts machinery manufacturing shipments bounced up 22% m/m from January’s previous drop. According to Oxford, global air travel demand has nearly returned to pre-pandemic levels. When glancing at aerospace products and part’s shipments in the EMI dashboard with the 12-month moving average, we can see a gradual climbing towards the historical peak in 2018. Additionally, EMI reflects that the aerospace products and part’s industrial production index is trending upwards in y/y % change, 3/12, and 12/12 rates of change, further corroborating a period of growth for this sector.
- Construction
- The EMI report indicates construction machinery manufacturing shipments were up 4.3% m/m in February 2024 and 10.2% y/y. Oxford saw Total US housing rebound in February, growing by 10.7%. The Midwest continues to host the largest US housing growth of 50% m/m with the South second at a distance with 15.7% m/m, according to Oxford. The chart below shows US construction spending across three major categories increasing into the beginning of 2024.
- Motor Vehicles
- Motor vehicles and parts machinery manufacturing shipments improved 8.3% m/m in February according to the EMI report. February’s automobile, light truck, and utility vehicle industrial production index of 130.33 falling short of all time high of 132.41 recorded in February 2020. This is the highest recorded index in that category post Covid-19. Oxford notes the uptick in selling rates for light vehicles in the US reflecting an increase in consumer spending, however current credit conditions are cited as a drag on this market until interest rates are lowered.
The EMI report can be accessed at this link: https://nfpahub.com/reports/econ-market-indicator/. An excel file with all the raw data is also available to download for internal analysis. Members can view individual series and apply different calculations such as moving averages and rates of change.
Oxford Monthly Industry Briefings can be accessed at this link: https://nfpahub.com/stats/reports-data/global-market-reports-forecasts/industry-briefings/
Questions? Contact Cecilia Bart at cbart@nfpa.com or 414-259-2027.
Like this post? Share it!
Recent Posts
NFPA to Present “Digital Fluid Power – Advances & Controls in Hydraulics & Pneumatics” at AUTOMATE on May 8
NFPA members are encouraged to attend the AUTOMATE trade show, to be held May 6-9, 2024 in Chicago, IL. As part of our efforts to provide an effective forum for our members to connect with key end markets in fluid power, NFPA will be organizing a panel discussion on “Digital Fluid Power” on the AUTOMATE…
NFPA Surveys as Leading Indicators
Looking for a strong leading indicator to help plan forward over the next couple quarters? Look no farther than the NFPA State of Fluid Power Industry Survey (SOFP). SOFP is easy to participate in each month; more importantly, the results are powerful. Just answer a few quick opinion-based questions via an online survey. The SOFP…
NAM Regulatory Update: Manufacturers | Unprecedented Use of CERCLA Authority Will Hamper President’s Manufacturing Vision
As part of an effort to bring more information about the regulatory and legal environment facing American manufacturers, NFPA is monitoring the newsfeed of the National Association of Manufacturers (NAM) and will be bringing important updates like this to the attention of NFPA members. These chemicals are sometimes present in hydraulic fluids. Following the release…