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Gardner Business Index: Precision Machining October 2022

The GBI: Precision Machining activity shows 4 of 6 components contracting in October.

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The Gardner Business Intelligence (GBI) Precision Machining Index started contracting in October, closing at 49.1, its lowest point since July 2020. See last month’s reading.

GBI: Precision Machining activity shows 4 of 6 components contracting in October.

  • Production and exports contracted in October at about the same rate as September.
  • Backlog and new orders contracted at faster rates.
  • New orders contracted to a point not seen in over 2 years.
  • Employment continues to grow at about the same rate it did in September, but not sufficiently according to ‘the word on the street.’
  • Supplier deliveries continued to lengthen at a slower rate, approaching readings that were more typical pre-pandemic.

Precision Machining Business Index

Precision Machining’s flat reading of 50 in September crossed into contraction in October, closing the month at 49.1.

Precision Machining’s flat reading of 50 in September crossed into contraction in October, closing the month at 49.1.


Key Components (3-month moving average)

GBI components, backlog and new orders were among the faster contracting components in October. Supplier deliveries lengthened into familiar pre-pandemic territory.

GBI components, backlog and new orders were among the faster contracting components in October. Supplier deliveries lengthened into familiar pre-pandemic territory.

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