Shipments Down in April, Growth Slowing
After March’s record highs in shipments and orders of fluid power products, the latest data from the National Fluid Power Association shows decreases of pneumatic, mobile hydraulic, and industrial hydraulic shipments in April when compared to March. The 12-month moving average of shipments for pneumatic, hydraulic, and total fluid power continues to grow, but their growth rate appears to be slowing. The year-to-date percent change for total fluid power shipments in April was 13.6%. The charts below were drawn from NFPA’s Confidential Shipment Statistics (CSS) program.
Hydraulic and Pneumatic Shipments
Raw Index Data, Index: 2018=100
This graph of raw index data is generated by the total dollar volume reported to NFPA by CSS participants and compared to the average monthly dollar volume in 2018. For example, the April 2022 total dollar volume for pneumatic shipments is 103.3% of the average monthly dollar volume in 2018. (Base Year 2018 = 100)
Pneumatic, Mobile and Industrial Hydraulic Orders 12/12 Ratio
Each point on this graph represents the most recent 12 months of orders compared to the previous 12 months of orders. Each point can be read as a percentage. For example, 138.5 (the April 2022 level of the industrial hydraulic series) indicates that industrial hydraulic orders received from May 2021 to April 2022 were 138.5% of the orders received from May 2020 to April 2021. (Base Year 2018 = 100)
Total ‐ Hydraulic and Pneumatic Shipments 12 Month Moving Average
This graph of 12-month moving averages shows that in April 2022, the moving averages for shipments continued to increase across the board but are approaching a plateau. (Base Year 2018 = 100)
Shipments – Cumulative year‐to‐date % change (2022 vs. 2021)
The table above is expressed in terms of cumulative percent changes. These changes refer to the percent difference between the relevant cumulative total for 2022 and the total for the same months in 2021. For example, April 2022 pneumatic shipments figure of 7.5 means that for the calendar year through April 2022, pneumatic shipments increased 7.5% compared to the same time-period in 2021.
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