Precision Machining Continues 2022 Trend with March GBI
March activity continued expanding at faster rates.
The Gardner Business Intelligence (GBI) Precision Machining Index closed March at 61.9, marking a total 4.6-point increase since the end of 2021. New orders, production and backlog activity continued expanding at faster rates, new orders and production the most accelerated, and all three with readings on top of each other in March (~61.)
Precision Machining for March 2022
Expansion in employment activity was just a little faster in March, nearly one point up from February (53.4 vs. 52.5, respectively.) (See last month’s reading.) Exports continued to contract at rates ever so slightly increased since the start of 2022. Lengthened supplier deliveries continued to inflate GBI, March expanding at a rate in line with February.
Supply Chain Readings (Chart data illustrated as 3-month moving averages)
