Steven Kline, Jr.

Steven Kline, Jr. Chief Data Officer

May Marks Third Month of Contraction

Production has expanded consistently for four straight months. Employment grew for the fifth month in a row.

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Contraction Accelerates

The lengthy contraction in backlogs, even during periods of growing new orders, indicates that there is available machining capacity at precision manufacturers.

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Growth Rate Inches Higher

With a reading of 53.1, the December MBI showed that the metalworking industry grew slightly faster compared with November, marking the 29th consecutive month of industry growth.

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Not Your Father's Recession

In a typical economic cycle, some businesses expand too rapidly.

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