The Gardner Business Index: Precision Machining contracted in July, at an accelerated rate for the fourth month in a row, landing at 42.5, down 1.7 points from June’s 44.2.
GBI: Precision Machining key components contracted at faster rates in July.
New orders and production accelerated contraction, not insignificantly, for the third month in a row.
Backlog did the same, for the second month in a row.
Exports continued its trend, accelerating contraction a bit each of the past four months.
Employment maintained its trend, the opposite of exports, slowing contraction a bit each of the past four months.
Supplier deliveries remained long and about the same as in June.
Business sentiment, still positive, bounced up a bit in July.
Precision Machining activity contracted faster again in July, closing at 42.5. Source: Gardner Intelligence
Accelerated contraction in new orders, production and backlog drove a decline in the overall index (reported as 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.
With this audience development strategy, we hope to do two things:
First, we will be better able to deliver directly to our audience the editorial content that aligns with the machining materials, processes and technologies that interest them.
Second, we will be better able to connect the materials, equipment and services our advertisers supply with the audience that is most interested in them.
PM plays a distinctive role and has earned a place of esteem within the focused and specialized industry it serves. Large developments in the media landscape are forcing us to change the way we communicate with our audience. We are confident that our audience values the role PM plays in their professional lives and will join us in this effort to stay connected to them.
We thank you for your continued interest in and support of PM and welcome any questions you might have about the brand’s new content gating strategy.
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