Metalworking Activity Remained on a Path of Contraction
Steady contraction of production, new orders and backlog drove accelerated contraction in November.
Share
The path has not been direct, but the trend is consistent, with metalworking activity contracting since March of this year. November was no different, closing at 43.7, down 1.7 points relative to October.
Steady contraction of three closely connected components — production, new orders and backlog — drove accelerated contraction. Employment held its own, contracting at the same level since its first real contraction in August, still to a lesser degree than all the other components. Exports were similarly steady state in contracting, and supplier deliveries lengthened again in November, but at a slower rate.
Metalworking GBI zigzagged down again in November. Photo Credit: Gardner Intelligence
The three most direct drivers of metalworking activity posted accelerated contraction in November, which they have done fairly consistently since March of this year (3-MMA = three-month moving averages). Photo Credit: Gardner Intelligence
Related Content
-
Metalworking Activity Starts Year With Slowing Contraction
The GBI: Metalworking welcomed the new year with slowed contraction of components for the second month in a row.
-
Metalworking Activity Shows Signs of Stabilizing Contraction
Metalworking activity continued to contract in what has become a rather characteristic GBI ‘dance.’
-
Metalworking Contraction Slows Slightly in October
While still in a state of contraction, some indicators are improving in the metalworking market.
