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The Power Transmission Distributors Association Business Index reading for the fourth quarter was 60, compared with a 52 reading for the third quarter index. In the fourth quarter survey conducted last month, participants anticipated 7 percent growth in 2014.
The index reading indicates the rate of change compared with the previous period. Readings above 50 indicate growth and below 50 indicate contraction. The further the index is above or below 50 suggests a faster or slower rate of change.
The entire 4Q13 PTDA Business Index report can be found here. Conducted jointly by PTDA and Cleveland Research Company, the PTDA Business Index was modeled after the Purchasing Managers Index and tracks change in business activity, new orders, employment, supplier deliveries, inventories, prices and backlog in the power transmission/motion control industry to arrive at an overall index.