Metalworking Index Inches up to 49.0 in August
The GBI: Metalworking continues to hover just below expansion, but shops are cautiously optimistic.
Share
The Gardner Business Index (GBI) measures the current state of metalworking and machining activity through survey responses covering new orders, production, backlog, employment, exports and supplier deliveries. A reading above 50 indicates expansion; below 50 indicates contraction.
August results for the Metalworking Index saw a 0.7-point uptick from July to land at 49.0. Production and new orders saw the biggest single-month increases followed by backlogs, indicating shops are staying busy and may continue to be. Three-month averages for all components except exports improved on results from August of last year.
The GBI Components Scorecard reports the monthly change rate of primary metalworking market factors contributing to the overall monthly index reading.
A mixed bag of results relative to last month. The three-month average for all but exports improved from August 2024.
Reading the Scorecard:
- Color indicates where a component value falls relative to 50 for the current month. Green indicates expansion, and 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 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.
Shops continue to feel optimistic about business conditions with the Future Business Index picking up several more points for a three-month average of 62.1, higher than any August reading of the last three years.
Find the latest metalworking market research and reporting at GardnerIntelligence.com.
Related Content
-
Metalworking Activity Stabilizes in July
July closed at 44.2, which interrupts what had been three months straight of accelerating contraction.
-
Metalworking Activity Sees Minor Drop in June
Positive results in employment trends and production are offset by supplier deliveries, among other components.
-
Metalworking Index Shows Continued Recovery
December marks third consecutive month of metalworking improvement on the heels of increased supplier deliveries.
