Precision Machining Activity Contraction Continues — But More Slowly
Down overall, the index showed some areas of improvement this month.
The Gardner Business Index (GBI) is an indicator of the current state of precision machining activity considering survey responses regarding new orders, production, backlog, employment, exports and supplier deliveries. Over 50 is expansion. Under 50 is contraction.
The September GBI shows precision machining activity contracted again slightly this month. Production and employment numbers are down slightly, while materials prices rose. However, new orders, prices received and future business also rose slightly this month.
The Gardner Business Index (GBI) Components Scorecard reports the monthly change rate of primary composites market factors contributing to the overall monthly index reading.
Reading the Scorecard:
- Color indicates where a component value falls relative to 50 for the current month. Green indicates expansion; red indicates contraction.
- Shade indicates a value’s distance from 50; the darker the shade, the further from 50.
- Direction indicates a value’s change versus the previous time period. Pointing up is always better.
The GBI Future Business Index is an indicator of the future state of the precision machining market considering industry respondents regarding their opinion of future business conditions for the next 12 months. Over 50 is expansion and under 50 is contraction.
The index remained positive but shows continued contraction indicating slower future growth expectations.
Find the latest precision machining market research and reporting at GardnerIntelligence.com.
