The Metalworking Business Index has registered consistent expansion in recent months, with shops that use advanced equipment like five-axis reporting accelerating expansion.
The Gardner Business Index: Metalworking had a July reading of 61.2, indicating a slowing expansion, while supplier backlogs and new orders remain largely unchanged.
The Gardner Business Index: Metalworking showed a reading of 63.8 for June, breaking its all-time high for the second time this year.
The Gardner Business Index: Metalworking held at a reading of 62.2 through April, indicating a constant level of expansion.
Slow supply chains and rising prices are still challenges in the near-term.
Despite the passing of the holiday shipping rush, deliveries times lengthen further, impairing production and raising backlogs.
The Gardner Business Index: Metalworking reached a 53.6 reading for December 2020, closing the year with a nearly two-year growth high.
The Gardner Business Index: Metalwork fell to 50.2 in November 2020, indicating that while growth has continued, it is slowing and could turn to another contraction.
Metalworking posted a ‘no-change’ (reading of 50.0) month in September thanks to expanding production and new orders activity for the first time since COVID-19 began disrupting the global economy.
The reading hits a record low as new orders contract, exports shrink and unemployment soars.
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