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09/21/2017

November Trends Report - Double-Digit Growth Driven by Broad Based End Market Activity

Industry Trends Report

According to this month’s Industry Trends report, both sales and orders remained robust in October with broad based end market strength. Notably, oil and gas activity continues to be strong and other heavy industrial markets such as agriculture and mining appear to be improving as well. Participants are optimistic on growth in 2018 supported by robust end market activity and strong orders growth.

Sales growth increased 11% in October, which is inline with the 11% growth in 3Q and compares to 12% growth in September. Order growth was also up 11% in October, inline with year-to-date orders growth and modestly softer than the 12% growth in September. Initial expectations are for ~7% growth in 2018, which represents just a modest downtick from the 9% growth through the first 10 months of 2017.

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