Metalworking Index Sustains Growth Rate Entering the Second Quarter
Metalworking’s April reading remained unchanged from the prior month.
With a reading of 43.3, Gardner’s Metalworking Business Index showed that the industry contracted in August for the fifth month in a row to its lowest level since July 2009, when the index was 36.5.
With a reading of 43.2, Gardner’s Metalworking Business Index showed that the industry contracted in October for the seventh month in a row. While the index was slightly lower than it was in September, it has remained at virtually the same level for three months in a row.
The GBI: Metalworking has reached a reading of 62.8, with most of the Index components at or near all-time highs.