Metalworking Activity Shows Signs of Stabilizing Contraction
Metalworking activity continued to contract in what has become a rather characteristic GBI ‘dance.’
Share
Metalworking activity has contracted nearly every month for over one year, the exception being February 2023, which was flat. Since April 2023, a month of accelerated contraction in metalworking activity has remained stable into the following month. Contraction has tended to accelerate again the month following stability.
December maintained this dance, marking a flat-to-slightly-slower-contracting month, closing at 44.5, 0.8 points higher than November. Stable component activity drives the December GBI. New orders, backlog, employment and exports stabilized, still contracting, while production contracted at a slightly accelerated rate. Business sentiment (not included in GBI calculation) for the next 12 months improved faster in December, but did not play out in components.
The Metalworking GBI continued with a mostly stable December. Photo Credit: Gardner Intelligence
Backlog and new orders are two of December’s mostly stable, contracting components, while future business is more optimistic going into 2024 (3-MMA = three-month moving averages). Photo Credit: Gardner Intelligence
Related Content
-
Metalworking Index Continues Climb into 2025
Steady improvement is short of expansion but component readings and future outlook remain strong.
-
Last Chance! 2025 Top Shops Benchmarking Survey Still Open Through April 30
Don’t miss out! 91ÊÓƵÍøÕ¾ÎÛ's Top Shops Benchmarking Survey is still open — but not for long. This is your last chance to a receive free, customized benchmarking report that includes actionable feedback across several shopfloor and business metrics.
-
Metalworking Activity is on a Roll, Relatively Speaking
February closed at 47.7, up 1.4 points relative to January, marking the third straight month of slowed contraction.
