Today’s chart paints a promising picture of the global economy…
Longtime readers know we use a variety of sectors as economic bellwethers. Industries like manufacturing, shipping, and construction are economic hubs… They show that goods are changing hands, energy is flowing, infrastructure is developing – and overall, money is moving freely.
Graco (GGG) is a $9 billion manufacturer of fluid-handling equipment used around the world.
Don’t confuse it with the Graco brand of baby gear – this Graco makes the paint-sprayers used on assembly lines and road-striping projects… the pumps that dispense chemicals and oil… and the valves and meters that keep these substances under control.
The company had a record year in 2018, hitting nearly $1.7 billion in sales.
And that’s a good sign for the economy…
As you can see, shares have nearly doubled over the past three years, recently hitting a new all-time high. The world’s companies are still eagerly investing in Graco’s equipment… yet another indicator that the global economy is going strong…
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Source: Daily Wealth’s Market Notes