Gardner Business Index: Precision Machining June 2022
Precision Machining’s growth slowed in June.
The Gardner Business Intelligence (GBI) Precision Machining Index indicates component activity in June can be summed up as ‘slowed growth.’ The GBI: Precision Machining closed June at 55.1, compared to May’s 58.7.
- Even employment growth slowed in June following faster growth each of the three months prior. (See last month’s reading.)
- Backlog, which was one of two components to at least hold its own in May, also slowed in June.
- Exports continued to contract at slightly faster rates.
Precision Machining Business Index
Precision Machining showed slowed growth in June, for just the second month this year.
Employment, Backlog
- Employment had been expanding for a few months straight, but joined other components in slowing in June.
- Backlog activity had been fairly steady, but slowed as well in June.