Report: FHP Motors Shipments Almost Doubled in 3 Years
Sep 14, 2012
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Demand for motors increased in the second quarter of 2012, making it the third consecutive quarter of increasing motors shipments, according to the NEMA Motors Shipments Index.
The index was up 5.3% from the first quarter of 2012. This follows a revised index for the first quarter of 2012, showing a gain of 5.9%, and a fourth-quarter 2011 gain of 3.6%.
NEMA reported the index hit bottom in the second quarter of 2009, and has since climbed a cumulative 53%.
The index has now topped its pre-recession high for five consecutive quarters.
NEMA said fractional horsepower motors growth dipped below that of integral horsepower motors in the second half of 2011, but it showed a strong rebound in the first half of 2012.
The inflation adjusted dollar value of fractional horsepower motors shipments almost doubled between 2Q 2009 and 2Q 2012.
The value of integral horsepower motors shipments increased by nearly a third between 2Q 2009 and 2Q 2012.
Motors benefited from strong manufacturing sector growth early in 2012, but NEMA saw that growth appearing to be slowing. The trade group also pointed to data indicating that manufacturing output growth was expected to be no higher than mid 2% for the remainder of 2012 and all of 2013. The trade group also pointed to recent data showing overall durable goods orders contracting year-on-year by 1% in June.
NEMA said that it still expects the electrical manufacturing industry to advance at a steady annual pace for the next two years.
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