The Gardner Business Index: Precision Machining contracted in June, at an accelerated rate for the third month in a row, landing at 44.2, down 1.1 points from May’s 45.3.
GBI: Precision Machining key components contracted at faster rates in June.
New orders and production accelerated contraction for the second month in a row.
June is the first month backlog that also accelerated contraction, and to an appreciable degree.
Exports continued with slowly accelerated contraction, dropping a little bit each of the past three months.
Employment contraction has trended the opposite of exports, slowing a bit each of the past three months.
Supplier deliveries remained long and lengthening, not the result of booming demand such that other variables must be driving the trend.
Business sentiment, still positive, dropped again in June.
Precision machining activity is not alone in its concerning trend, suggesting higher level domestic and/or global factors are at play.
Precision Machining activity contracted faster in June, closing at 44.2. Source: Gardner Intelligence
New orders, production and backlog contracted at accelerated rates in June (reported as three-month moving average). Source: Gardner Intelligence
