Contraction in Moldmaking Activity Slowed Again in March
While still contracting, March’s moldmaking index is back on track, albeit at a slower pace, to potentially cross back over into expansion territory.
GBI: Moldmaking activity was up 1.7 points in March. Source (All Images) | Gardner Intelligence
The Gardner Business Index (GBI) Moldmaking ended March at a reading of 47.6, up 1.7 points from February. The index contracted at a slower rate — activity that was last seen in December 2023 — which was driven by key components new orders, production and backlog.
All three of these components continued their slow contraction in March, marking a three-month trend for new orders and production, and two months for backlog. Employment and exports showed little change, both contracting at steady rates for at least four months now.
March’s slowed contraction in new orders, production and backlog drove slowed contraction for the total index. (This graph shows three-month moving averages.)
Another index component, supplier deliveries, lengthened just a little faster in March while expectations of future business (not part of the GBI calculation) remained positive, accelerating a little slower after four months straight of accelerated growth.
March’s activity hints at positive things happening in the moldmaking industry, such that the overall index crossing into expansion should not be out of the realm of possibility in the near future.
