July MBI Shows Industry Performance Moderating
With a reading of 48.3, the Metalworking Business Index showed that the metalworking industry has contracted for the first time in three years.
.JPG;width=70;height=70;mode=crop;format=webp)
Share
.jpg;maxWidth=600)
The future business expectations subindex has fallen below its historical average, which means that owners/managers are less optimistic than usual. Certainly, the significant drop in backlogs has contributed to this. Also, the Supreme Court’s decision on healthcare was announced shortly before this survey. A similar reduction in optimism occurred last year during the government’s debt ceiling debate. Business owners and managers are more optimistic when conditions appear more stable.
Related Content
-
Metalworking Activity Remained on a Path of Contraction
Steady contraction of production, new orders and backlog drove accelerated contraction in November.
-
Metalworking Index Shows Continued Recovery
December marks third consecutive month of metalworking improvement on the heels of increased supplier deliveries.
-
Metalworking Activity is Nearing a Full Year of Contraction
Metalworking activity has contracted since October of 2022.