Investing in the industrial sector used to be a lot easier. You simply looked at trends in reliable indicators like purchasing manager indices (PMI) and industrial production in order to get a read on where most industrially focused companies were heading.

However, the Institute of Supply Management (ISM) PMI Manufacturing Index has indicated a contracting manufacturing economy for the last nine months. Yet industrial software company PTC (NASDAQ: PTC) expects mid-teens percentage growth in its key growth metric in 2023. What's going on, and can it continue?

The company's traditional core offerings are in computer-aided design (CAD) and product lifecycle management (PLM) software. However, through a series of acquisitions and internal growth, PTC has developed a so-called "closed-loop life-cycle" management strategy. 

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Source Fool.com