Aerospace and Automotive
Aerospace production poised for growth in 2015; automotive industry drives mold production.
Aerospace Production Poised for Growth in 2015
Aerospace industrial production grew at a decelerating rate throughout 2013 and into the first half of 2014, but that trend reversed in July and production has grown at an accelerating rate since then. Current aerospace production levels are virtually at their peaks since late 2007 and early 2008, and the growth rate should continue to accelerate. A significant reason for this growth is that system revenue passenger miles have grown at an accelerating rate since April 2013. Real disposable income also grew at an accelerating rate throughout 2014. Therefore, based on past trends, aerospace industrial production should continue to grow faster throughout 2015.
In November, our aerospace business index grew for the third month in a row and for the eighth month out of the first 11 of 2014. New orders were growing at their fastest rate since January 2014, and backlogs increased in three of the previous five months, indicating that capacity utilization within the aerospace manufacturing industry should be rising. Despite the relative strength of the dollar, exports grew each of the previous three months as well.