July MBI Shows Industry Performance Moderating
With a reading of 48.3, the Metalworking Business Index showed that the metalworking industry has contracted for the first time in three years.
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The future business expectations subindex has fallen below its historical average, which means that owners/managers are less optimistic than usual. Certainly, the significant drop in backlogs has contributed to this. Also, the Supreme Court’s decision on healthcare was announced shortly before this survey. A similar reduction in optimism occurred last year during the government’s debt ceiling debate. Business owners and managers are more optimistic when conditions appear more stable.
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