The latest issue of the quarterly ITR Econ Trends report is now available. Developed specifically for PMA member companies, the report provides a general economic overview and focuses on forging and stamping, heavy truck and light vehicle production industries.
Report Overview
The road back to economic “normal” is already well-traveled. U.S. Real Gross Domestic Product (GDP) for the first quarter was a slim 0.9% below the pre-pandemic level, and ITR Economics expects Real GDP to reach new heights imminently. Some sectors—such as retail, residential construction and capital goods—are already in record territory.
Others, such as the labor market and the industrial sector, will require more time to get there due to challenges related to finding workers and materials. Job openings and new orders data signal that demand, however, is not in question. Make no mistake: the leading indicators provide compelling evidence that robust rise across a wide swath of sectors will characterize the next two to three quarters.
PMA members can read the full report here after logging in. Non-members can view the executive brief here. Learn more about this membership benefit here.