Precision Machining Activity Mixed in October
Overall activity contracted, but some areas showed growth, including future business.
The Gardner Business Index (GBI): Precision Machining is an indicator of the current state of precision machining activity based on survey responses regarding new orders, production, backlog, employment, exports and supplier deliveries. Over 50 is expansion. Under 50 is contraction.
The October Precision Machining Index activity contracted again slightly this month. Production was flat while employment numbers were down slightly, and materials prices rose again. New orders contracted slowly by more than a point, and prices received were flat.
The 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 from 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 improving over the previous month by a full point.
Find the latest precision machining market research and reporting at GardnerIntelligence.com.
