The Gardner Business Index: Precision Machining slowed contraction in February to the tune of 1.3 points, closing February with an index of 47.2, compared to January’s 45.9.
GBI: Precision Machining manifested movement in every direction across components.
New orders and production slowed contraction for a second and third month in a row, respectively, with new orders moving 3.4 points since January. Production slowed contraction by 2.7 points.
Backlog trailed behind, holding steady in contraction, and well below the other closely related key components.
Employment continues to contract in a rather wobbly way, perhaps due to mixed signals evident in other components.
Supplier deliveries held steady after lengthening slightly faster last month.
Business sentiment, not part of the GBI calculation, continued to increase though to a slightly softer degree in February.
Precision Machining activity contracted in February, closing at 47.2. Source: Gardner Intelligence
New orders and production stood alone in slowing contraction as even backlog stayed its contraction course in February (reported as a three-month moving average). Source: Gardner Intelligence
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Dear Production Machining Audience Member:
Starting on Thursday August 8, 2024, PM will begin “gating” its premium content, asking all new website users to provide some information about themselves — name, title, employer, email address — before they are provided free access to the content.
We are doing this because the ways PM’s audience finds and accesses our content is changing. Google’s search algorithms, increasingly, make it difficult to connect PM’s content with the people who might make use of it. On top of that, generative AI like ChatGPT is serving up PM content to internet users without attributing that content to PM.
As a result, it has become increasingly important for PM evolve its audience development strategy and learn as much as possible about who is accessing our content, what content they are accessing and how they are accessing it.
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