The Gardner Business Index: Precision Machining closed October with an index of 44.8, the same as September’s index of 44.7, which was down 2.4 points from August.
GBI: Precision Machining component activity in October was generally a continuation of activity in September.
New orders and backlog continued to contract at slightly accelerated rates that have pretty much kept those indices on top of each other since July.
Employment contracted at a slightly higher rate again in October, still maintaining one of the better positions in the contractionary phase.
Exports continued ‘business as usual’ in contraction for the past two years.
Production is neck-and-neck with exports, having stabilized contraction in October relative to September.
Supplier deliveries maintained position in lengthening at a slower rate in October, but edged closer to shortening.
Precision Machining activity contracted in October, closing at 44.8. Photo Credit: Gardner Intelligence
Related components, new orders and backlog, continued to contract hand-in-hand in October (reported as three-month moving average).Photo Credit: Gardner Intelligence
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Why am I seeing this?
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.
