Economic reports from NFPA continue to be a valuable resource for preparing our members for what’s next in the fluid power industry. This month, there are several updated reports available that are packed with the details you need to make informed business decisions:
Global Economic Reports and Forecasts (including Global Industry Forecasts and By-Country Briefings/Forecasts) by Oxford Economics provide our members with an international perspective on data such as macro summaries, customer market forecasts and the analysis of customer market data for 68 countries. Highlights from the Quarter 2 updates include:
- Global outlook for the pace of the economic recovery
- Covid-related developments and influence of the rise in the global services
- Consumer demand rotation and GDP growth
- Recovery status of US automotive sales as a result of the pandemic
Another useful report from this quarter is Capacity Utilization, an economic indicator commonly used by economists to predict turning points in manufacturing trends, anticipate price inflation, forecast unemployment and foresee supply bottlenecks. This popular indicator index measures the percent of maximum potential output that is actually produced for any given plant or the rate at which total capacity is used. Capacity utilization can be used as:
- A predictor of price inflation, and
- an indicator of employment pressures.
It also tracks historically closely with NFPA’s Fluid Power Shipments data.
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Mark Your Calendars – Upcoming Events of 2023!
Trying to plan ahead for future travel? Use this article to lock-in these events into your calendar! Purdue University Recruitment and Networking Event April 18, 2023 Virtual Delivery Vehicle Challenge Final Competitions April 12-14, 2023 | April 26-28, 2023 Norgren; Littleton, CO | Danfoss; Ames, IA Fluid Power Forum Exhibit and Member Reception at Offshore Technology…
You’re Invited: Purdue University Recruitment and Networking Event
Byline: Kyla Olson, Workforce Program and Event Manager Tuesday, April 18th, NFPA will be hosting a two-part virtual event with Purdue University. We will begin with the Indiana Workforce Engagement Group meeting where you can expect an open discussion between NFPA staff, Purdue University faculty, and industry representatives from NFPA member companies. This is meant…
Power Partner University Murray State University Focuses Heavily on Automation and Controls within Industry- Fluid Power Forum Episode 96 Now Live
This episode features Jake Hildebrant, a Professor of Electromechanical and Manufacturing Engineering Technology at Murray State University. Listen to the Podcast Here As we all know, education plays a crucial role in developing the fluid power workforce. We invited Jake into our forum to welcome Murray State University as a first-year Power Partner University, while also learning…