Moldmaking Industry GBI Ends August Flat
The August Gardner Business Index (GBI) indicated a lack of growth, having squeaked out a reading just barely above the line dividing expansion and contraction.
GBI: Moldmaking managed to stay just barely on the expansion side in August. Photo Credit, all images: Gardner Business Intelligence
The Gardner Business Index (GBI) Moldmaking closed August at 50.5, about the same as July’s 49.8 reading. The optics of August’s Moldmaking Index are improved, however, having squeaked out a reading just barely above the line dividing expansion and contraction.
August is another straight month of deceleration for every Index component. Backlog, which has not contracted since the start of 2021, solidly joined new orders in this regard; the last time new orders experienced contraction was July 2020. Numerically, production also (barely) landed in the contraction space in August. Following closely behind, employment growth slowed, ending the month knocking at the door of contraction. Supplier deliveries still lengthened, but at continually slowing rates.
Related metrics, new orders and backlog, both contracted in August. Growth decelerated for every other component, each edging closer to contraction. (This graph is on a three-month moving average.)
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