St. Paul, MN (February 28, 2019) — According to Steven Kline, Jr., Chief Data Officer, Gardner Business Media, while the index for production of durable goods was at its lowest reading since July 2018, it grew 3.8 compared with one year ago.
In January, the index for production of durable goods was at 105.3. While this was the lowest reading since July 2018, January’s index grew 3.8 compared with one year ago. That was the slowest month-over-month rate of growth since July 2018.
The annual rate of growth, which is easier to correlate with other data points, continued to accelerate in January. The rate of growth accelerated for the eighth straight month, reaching 3.6 percent, the fastest rate of annual growth since April 2013. It was the second month in a row with faster-than-average annual growth as well. The accelerating growth trend will continue for at least the next couple of months, which is a positive sign for capital equipment consumption.
Gardner tracks industrial production and its leading indicators for a number of industries.
Accelerating Growth: automotive, construction materials, durable goods, electronics/computers/telecommunications, forming/fabricating (non-auto), furniture, hardware, HVAC, industrial motors/hydraulics/mechanical components, military, petrochemical processors, power generation, primary metals, pumps/valves/plumbing products, ship/boat building
Decelerating Growth: custom processors, food/beverage, machinery/equipment, metalcutting job shops, off-road/construction machinery, oil/gas-field/mining machinery, plastics/rubber products, textiles/clothing/leather goods, wood/paper products
Accelerating Contraction: appliances, printing
Decelerating Contraction: aerospace, medical
Matsuura Machinery USA, Inc., located in St. Paul, MN is the U.S. subsidiary of Matsuura Machinery Corporation in Japan. Since 1935, Matsuura has been the forerunner in designing innovative technology and manufacturing solutions to a variety of industries around the globe. Matsuura Machinery USA, Inc. delivers unmatched excellence in 5-axis, vertical, horizontal, linear motor, multi-tasking CNC machine tools and machines with a powder bed metal AM platform with machining capability. Matsuura Machinery USA, Inc. provides the service, applications and technical field support that have always been the Matsuura standard for business. For more information on Matsuura products, contact: [email protected] or visit: www.matsuurausa.com.
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