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 activity contracted at an accelerated rate in May, driven primarily by accelerated contraction of key components, new orders and production. The Gardner Business Index (GBI) Moldmaking ended May at a reading of 47.2, down 1.1 points from April.
GBI: Moldmaking activity was down 1.1 points in May. Source (All Images) | Gardner Intelligence
The other three contracting components cover the ‘change’ bases, with backlog slowing contraction at a steady rate, employment slowing contraction at a faster rate, and exports contracting at about the same rate it has for months.
Supplier deliveries lengthened just a little faster again in May, but not a function of new order growth. Instead, there may be held over and/or new supply chain challenges.
Moldmaking activity in the month of May is essentially the opposite of April, throwing caution on hopes of the segment expanding any time soon.
May’s accelerated contraction in new orders and production drove accelerated contraction in the total index. (This graph shows three-month moving averages.)
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