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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A new year means new market information reports from NFPA. The Member Hub has recently been updated with dozens of new forecasts and briefs from Oxford Economics. Content covered in these reports includes the impact of supply chain disruptions on forecasted GDP growth, fiscal outlook as a result of the Omicron variant and highlights of…
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Programs like the Fluid Power Scholarship Program are made possible in part by the generous support of industry volunteers as well as NFPA Education and Technology Foundation and Pascal Society donors. Support these efforts by making a donation. NFPA is in need of volunteers for the coming months in support of several workforce programs. This spring,…