The Gardner Business Index: Precision Machining closed November with an index of 44.0, down 0.8 points from October’s index.
GBI: Precision Machining components in November all contracted at about the same rate or at accelerated rates relative to October.
New orders and backlog continued to contract at the same steadily accelerating rates that have had them tracking on top of each other for five months straight.
Production contraction accelerated the most in November, landing the closest it has been in a few months to new orders and backlog.
Employment has been on a path of steadily accelerating contraction since August, maintaining position as the least contracted component.
Exports continued ‘business as usual’ contraction, which has been in place for the past two years.
Supplier deliveries continued lengthening ever so slowly, closing less than one point away from flat.
Precision Machining activity contracted in November, closing at 44.0. Photo Credit: Gardner Intelligence
Closely connected components — new orders, backlog and production — continued to solidly contract in November (reported as 3-month moving average). Photo Credit: Gardner Intelligence
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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.
With this audience development strategy, we hope to do two things:
First, we will be better able to deliver directly to our audience the editorial content that aligns with the machining materials, processes and technologies that interest them.
Second, we will be better able to connect the materials, equipment and services our advertisers supply with the audience that is most interested in them.
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.
We thank you for your continued interest in and support of PM and welcome any questions you might have about the brand’s new content gating strategy.
