10/10/2014

FPDA Latest Economic Indicators Report Projects 5-6% Growth in 2014

Sales in our fluid power survey were up 4 percent in August, below the 7 percent growth in July, likely muted by one less selling day in the month. Sources continue to expect 5-6 percent growth in 2014, which implies ~7-10 percent in the remaining four months of the year after ~4 percent growth YTD. Initial forecasts for 2015 are for 6 percent growth, in line with 2014, with oil & gas demand expected to drive the market along with better mobile activity outside of ag expected.

Here are some report highlights:

• The August FPDA Index produced a reading of 57, down from July’s reading of 64.9. The broader ISM improved to 59, better than the 57.1 reading in July.
• Sales in our fluid power survey were up 4 percent in August, below the 7 percent growth in July, likely muted by 1 fewer selling day in the month.
• 2014 outlook remains unchanged in August with sources forecasting 5-6 percent growth, implying 7-10 percent growth through the remainder of the year after ~4 percent YTD. Initial forecasts for 2015 are for ~6 percent growth, similar to expectations this year.

To read the full report, click here. (Remember, your username is your email address. If you do not remember your password, just click “forgot password” and you will be able to set up a new one.) All FPDA Distributor and Manufacturer members are encouraged to submit data in this monthly report.