According to Gardner Intelligence, the Gardner Business Index: Precision Machining ended June with an index of 46.5, down two points from May’s 48.5. (See last month’s reading.)
GBI: Precision Machining component activity in June was, for the most part, a continuation of May as component declines combined to drive a two-point drop in overall Precision Machining GBI.
New order activity took a second dive in June.
The degree to which new orders are further contracting along with backlog, it is reasonable to expect that production, which contracted again this month, may see one of its more dramatic declines in the next month or so.
Supplier deliveries is the only component that held its own in June, lengthening at the same rate as in May.
Employment expanded for another month, but more slowly in June than May.
A good sign comes from the sentiment question that is not calculated as part of GBI — more shops believe business will be up in the next 12 months than believe it will be down.
Precision Machining Index
Precision Machining activity contracted in June, closing at 46.5.
Key Components (3-month moving average)
Production contracted for the second time this year and in June new orders saw a second month of rather dramatic decline.
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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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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.
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