Metalworking Contraction Slows Slightly in October
While still in a state of contraction, some indicators are improving in the metalworking market.
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The Gardner Business Index (GBI) is an indicator of the current state of metalworking activity survey responses regarding new orders, production, backlog, employment, exports and supplier deliveries. Over 50 is expansion. Under 50 is contraction.
The October GBI shows the metalworking market is still contracting overall, but slower than the previous month. Future business outlook improved more than a full point over last month, but most indicators either improved or remained flat, other than employment, which contracted by two full points.
The GBI Components Scorecard reports the monthly change rate of primary metalworking 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 metalworking 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 expanding 1.5 points from last month, and average spend also increased slightly.
Find the latest metalworking market research and reporting at .
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