Metalworking Index Has Impressive First Quarter
First-quarter performance is unparalleled in the history of the Index.
.jpg;width=70;height=70;mode=crop;format=webp)
Share
Registering at 59.5 for March, the Gardner Business Index (GBI): Metalworking tallied another month of expansion and set a quarterly record high. Compared to the same month a year ago, the Metalworking Index grew by more than 5 percent. More revealing, however, are the quarterly comparison figures. The average reading of 59.9 during the first quarter of 2018 was significantly better than any previous quarter’s performance since 2012. Strong expansion in production, supplier deliveries, new orders and backlog drove the Index higher. Readings of employment and exports lowered the Index’s average-based calculation, pulling the Index down. All Index components expanded during March except for exports, which remained unchanged. March’s results were notable for the fact that production expanded faster than new orders for the first time since November 2017.
Related Content
-
Metalworking Index Shows Continued Recovery
December marks third consecutive month of metalworking improvement on the heels of increased supplier deliveries.
-
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.
-
Metalworking Activity Stabilizes in July
July closed at 44.2, which interrupts what had been three months straight of accelerating contraction.