Growth Rate Inches Higher
With a reading of 53.1, the December MBI showed that the metalworking industry grew slightly faster compared to November, marking the 29th consecutive month of industry growth.
.JPG;width=70;height=70;mode=crop;format=webp)
Material prices continued to grow faster than the prices received by the metalworking industry. In fact, material prices have grown faster (or contracted more slowly) since the MBI began in December 2006. This indicates that material cost accounts for an ever increasing portion of revenue at metalworking facilities. Finally, future business expectations have improved the last two months, breaking the downward trend that began last summer.
Related Content
-
Metalworking Activity Continued to Contract Steadily in August
The degrees of accelerated contraction are relatively minor, contributing to a mostly stable index despite the number of components contracting.
-
Metalworking Activity Stays Flat in October
The GBI for Metalworking reflects stability of most of the six GBI components that had been losing ground months prior. Ordinarily underwhelming, flat is good when it means not contracting.
-
Metalworking Activity Continues its Roller Coaster Year of Contraction
October marks a full year of metalworking activity contracting, barring just one isolated month of reprieve in February.
