Stats Fact of the Week: Week of November 7, 2018
Growth and decline trends for segments of the fluid power industry is something that fluid power manufacturers consistently seek to increase business intelligence and improve strategic planning. While NFPA performs numerous types of analysis on multiple data sources to assist members in gathering this type of information, “Year-to-Date Percent Change” tends to be one of the preferred methods.
What is Year-To-Date Percent Change?
Year to date (YTD) refers to the period beginning the first day of the current calendar year up to the current date. YTD percent change refers to the comparison of the current YTD to the same time period a year ago. This information is useful for analyzing industry growth and decline trends as well as comparing company performance data.
How do I calculate YTD Percent Change?
To calculate the YTD percent change, subtract the current YTD value from last year’s YTD value and divide by last year’s YTD value. Multiplying by 100 converts this figure into a percentage, which tends to make translating results easier.
YTD % Change = ((Current YTD – Year Ago YTD)/Year Ago YTD)*100
Using the YTD percent change industry analysis supplied in NFPA’s Confidential Shipment Statistics (CSS) Program for Fluid Power Overall, Pneumatics, and Hydraulics, we quickly see how the growth/decline trend has progressed for all three segments during 2018 compared to 2017. While Total Fluid Power’s trend slowly declines, it becomes pretty obvious that Pneumatics’ sharper decline trend is the major culprit behind this, while Hydraulics volatile trend lends little assistance.
Questions? Please contact Eric Armstrong, NFPA’s Economic and Statistical Programs Manager, at email@example.com or (414) 778-3372.