February 2022 Volume 4

INDUSTRY NEWS

This second chart (Figure 2) layers the Federal Reserve Bank’s industrial production index (IP) for Forging and Stamping onto the market data for Open Die, Rolled Ring, and Impression Die data produced by the O&S survey. The survey reported combined market index values for forging products improved 18% in the last three months of 2021 (ending November 2021) compared to a year earlier. Whereas the broad IP index for all Forging and Stamping products reported by the Federal Reserve improved by 11% over the same period. The shape of the data produced by the two sources is similar. Moreover, the IP index appears to lead the inflection point

for detailed forged products by about six months which may serve as a useful indicator for further analysis. In summary, it is important for the reader to know that the timing and direction of the detailed O&S data are validated by government statistics. This commentary covers only a portion of the valuable information available to O&S survey participants. The survey also reports monthly estimates on the dollar size of the market in addition to end-user industry and metal profile market trends for forged products produced in North America.

Figure 2

Ian Stringer VP – Data Strategy The Association for Manufacturing Technology Phone: 703-827-5209 Email: istringer@amtonline.org

FIA’s Orders & Shipments Survey program was re-launched in 2019 as a web-based high-end survey product. The survey’s scope is confidentially tracking FIA member North American shipments and bookings for forged products inclusive of the Impression Die, Open Die and Rolled Ring processes. If you would like more information or a Zoom demonstration to walk through the process of working with the software and loading monthly numbers please contact Keri Kichurchak at keri@ forging.org.

FIA MAGAZINE | FEBRUARY 2022 59