February Index Similar to January Report
Precision Machining saw expanding activity in Orders, Production and Backlogs at increased rates in the second month of 2022.
The Gardner Business Intelligence (GBI) Precision Machining Index closed February at 60.4, about the same as January’s 59.9, which was up 3 points from December. February’s New Orders, Production and Backlogs continued expanding at faster rates, while Exports continued to contract at about the same rate as January.
Expansion in Employment continued to slow in February with a reading that was the lowest since January 2021. Lengthened Supplier Deliveries continued to inflate the GBI, but delays are a function of atypical supply chain issues rather than the typical ‘healthy’ relationship between supply and demand.
Precision Machining for February 2022: Different pace of activity reinforces shops’ creativity in filling orders.
