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08/11/2014

FPDA Member Forecast 5-6% Growth

Economic Indicators survey showed sales modestly better in June

The June FPDA Economic Indicators survey had 42 respondents comprised of 30 distributors and 12 manufacturing firms. The survey indicates sales were modestly better in June, and we continue to see steadily improving underlying demand led by accelerating oil and gas activity.

The June FPDA Index produced a reading of 59.0, improving from May's reading of 56.7. The broader ISM was relatively unchanged at 55.3, slightly lower than 55.4 in May. Our fluid power survey indicates sales improved in June growing 6%, slightly better than trends in April/May as 2Q finished up 5%, accelerating from 3% growth in 1Q.

Sources continue to forecast 5-6% growth for 2014 implying around 7% growth in the second half of the calendar year.

Read the full report here.

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