Gardner Business Index: Precision Machining July 2024
Precision Machining activity contracted a bit faster again in July.
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