A sharp increase in future business expectations underscores hopeful conditions in 2025.
While still in a state of contraction, some indicators are improving in the metalworking market.
The overall metalworking index is down more than a point, but future business is up slightly.
July closed at 44.2, which interrupts what had been three months straight of accelerating contraction.
The Metalworking Index closed at 44.3 in June, down 1.2 points relative to May, marking a 2024 low.
Accelerated contraction and declines in business optimism span manufacturing segments. Odds are that broad-reaching economic factors are at play.
The interruption after what had been three straight months of slowing contraction may indicate growing conservatism as interest rates and inflation fail to come down.
Overall metalworking activity leveled off in March, but not to a point of concern.
February closed at 47.7, up 1.4 points relative to January, marking the third straight month of slowed contraction.
The GBI: Metalworking welcomed the new year with slowed contraction of components for the second month in a row.
Metalworking activity continued to contract in what has become a rather characteristic GBI ‘dance.’
Steady contraction of production, new orders and backlog drove accelerated contraction in November.
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