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
