Moldmaking Accelerated Contraction in June
June’s moldmaking index took a relatively steep downward turn, landing at a new low for the year.
Moldmaking activity contracted at an accelerated rate in June, the second month in a row. Accelerated contraction of new orders contributed to the overall index decline, as did a turn for backlog, also contracting at an accelerated rate in June. Overall, the Gardner Business Index (GBI) Moldmaking ended June at 44.1, down 3.1 points from May.
GBI: Moldmaking activity was down 3.1 points in June. Source (All images) | Gardner Intelligence
Other components accelerated contraction to varying degrees, production the fastest, followed by exports, which continued a pattern of contracting a little faster one month at a time. Employment had been close to 50 (aka “flat”) before also contracting a bit faster in June.
On the “above 50” side, supplier deliveries continued a trend of lengthening a little faster in June, for no obvious “good” reason like increased demand. There must be “old” and/or new supply chain challenges at play.
June’s accelerated contraction in new orders and backlog drove accelerated contraction in the total index. (This graph shows three-month moving averages.)
Sentiment about future business has become less positive every month since March, following a steady four-month climb.
Related Content
-
Moldmaking Industry Contracts for First Time in Two Years
The September Gardner Business Index (GBI) for moldmaking indicates more components are contracting than expanding.
-
Moldmaking Activity Contracted a Bit Faster
May’s moldmaking index took a downward turn, departing from what had been a five-month path of slowing contraction, inching toward flat.
-
Moldmaking Industry GBI Follows Industry in Contraction Trend
The October Gardner Business Index (GBI) for moldmaking experienced a second month of contraction.
