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02/03/2022 – PMPA Weekly News Vol 26, Issue #5

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PMPA WEEKLY NEWS
February 3, 2022                            Vol. 26   Issue #5  
MANAGEMENT UPDATE CONFERENCE 2022

Limited rooms are available at the Westin Canal Place – If you need a hotel room, please contact Renee Merker at PMPA.
MANAGEMENT UPDATE CONFERENCE ATTENDANCE LIST 

See who’s coming:
ATTENDANCE LIST

There’s still time to register for the Conference – come and join us in New Orleans!

REGISTER NOW!

Update Conference Speaker Highlight: Ryan Pohl

Ryan Pohl is really excited to be presenting in New Orleans next week to share his process and strategies for “Building Talent on Purpose.”  
Ryan Pohl – Founder of Praeco Skills
Conference Questions?

Contact Renee Merker 
or Cate Smith at PMPA
 

PMPA’s 2021 December Business Trends Report and End-of-the-Year Summary Released

The PMPA December 2021 Business Trends Sales Index came in at 138, the highest December value ever, and unseasonably high. That 138 was 10 points (or 7.8 percent) higher than December 2020’s value, and 22.5 percent higher than the five- year average for the index for the month of December.  

While  December sales were down 6 points (or 4.1 percent) from November’s levels, they still contributed to a strong finish, resulting in the Calendar year average sales to be 141. This 141 exceeded our April 2021 prediction of 137 for the year. A surprisingly positive reading considering the events of the year- ongoing uncertainty due to Covid-19, tariffs, and supply chain difficulties.
 
If you are not currently participating in PMPA’s Monthly Business Trends reporting, you are missing a great peer benchmark and a tool to provide you with confidence for your business decisions. Contact Veronica Durden to sign up.

December 2021 Business Trends Report
 

Manufacturing Positivity

  • According to the Bureau of Economic Analysis, real Gross Domestic Product(GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.3 percent.

    LINK: https://www.bea.gov/sites/default/files/2022-01/gdp4q21_adv.pdf
     

  • The U.S. economy rebounded very strongly in 2021, with real GDP coming in at 5.7%. Compare that to the 3.4% decline in 2020. The current forecast for 2022 is ~4.3% growth. 
     
  • New Orders for Durable Goods fell 0.9% from a record $270.1 billion in November to $267.6 billion in December, according to the Advance report from the US Census. The decline in the headline number was due to decreases in aircraft and parts orders.  However, excluding transportation equipment, new durable goods orders increased 0.4% in December. New orders have jumped 12.7% over the past 12 months, or 11.9% with transportation equipment excluded.

    LINK: https://www.census.gov/economic-indicators/
    Click on “Advance Report Durable Goods”
 
This Week’s Speaking of Precision Podcast

Safety in the Precision Machining Industry in 2022
 
 

Members in the News…

 
AccuRounds and North Easton Machine Company win MMAP Grants

The Massachusetts Manufacturing Accelerate Program (MMAP), awarded over $2M to 13 manufacturers in Massachusetts. The grants were announced by Housing and Economic Development Secretary Mike Kennealy and were managed by the Center for Advanced Manufacturing at MassTech Collaborative (CAM).  The MMAP grants will be used by the Massachusetts manufacturers to invest in infrastructure, funding projects that create partnerships between the companies and manufacturing-focused organizations in the state.   PMPA members AccuRounds and North Easton Machine Company, Inc. were each awarded grants.

LINK:  Press Release
 
UPCOMING EVENTS

FEBRUARY 15 – 2PM (EST)
APPI Energy 101
APPI Energy reviews the services they provide, from electricity and natural gas procurement to their full suite of energy efficiency and sustainability solutions.
REGISTER NOW!

FEBRUARY 17 – 11AM (EST)
Verifyle Pro – Practical Uses for Security-Conscious PMPA Members
Learn how to put Verifyle’s ultra-secure messaging, document sharing and storage, and electronic signatures to use for your business. This proven and easy-to-use PMPA benefit will increase the security of your communications while raising your sense of awareness about what’s occurring on the receiving side of your communication. Get started at no-charge.
REGISTER NOW!
 

PMPA Reminders:

 
2022 Membership Dues Renewal

Our thanks to the companies who have renewed their PMPA membership for 2022 – we thank you for your trust in us to provide you with the information and resources to help your company adapt and thrive!

If you have not submitted your renewal…(Primary and Billing Contacts) can do so here: MEMBERSHIP RENEWAL

PMPA and YOU – Better Together!

2022 Hourly Wage Survey

There is still time to submit your 2022 Hourly Wage Survey. We are still accepting completed surveys.  Please email Veronica Durden at vdurden@pmpa.org if you plan to participate but need more time.

Also remember the final report is only made available to those who participate, so please take the time to complete and submit it.
 

PMPA’s New Final Cut of the Week
 

The Final Cut of the Week video series is now underway!  This series is a two-to-three minute video sharing information you may have missed while you were busy making essential parts. Look for a new edition every Friday on PMPA’s LinkedIn and Twitter feeds.

Current videos and archives can be found on PMPA’s website

Be sure to connect to PMPA’s LinkedInpage or Twitteraccount so you don’t miss out on these weekly news clips.
 

PMPA AFFINITY PARTNERS

APPI Energy     Federated Insurance      Grainger      Mirabel      
Paperless Parts     PartnerShip     Verifyle
CONTACT PMPA STAFF

Editor:  Renee Merker – Director, Communications and Events
 
Copyright © Precision Machined Products Association, All rights reserved.
6880 West Snowville Rd., Suite 200
Brecksville, OH  44141
PH: 440-526-0300
www.pmpa.org

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