Moldmaking Index Edges Higher on Production and Employment
June 2019 – 52.3
Employment activity has increased sharply since its nadir in late 2018. The latest monthly reading of employment activity nearly matched the record high set at the peak of the most recent business cycle.
Including June’s results, the 3-month moving average reading for new orders and production continues to expand. The expansion in new orders remains hampered by weakness in exports. Exports have been contracting modestly since the middle of 2018, the timing coincides with the start of tougher U.S. trade regulations with certain trading partners.
Employment data provided by survey participants to the Moldmaking Index continue to report strong growth after setting a recent low at the end of 2018. June’s employment reading was the highest since March 2018, placing this month’s employment activity change on par with the level of activity recorded at the peak of the latest business cycle.