Moldmaking Index Sets Second Consecutive Record High

June’s Moldmaking Index reading of 63.9 set a second consecutive all-time high. The month’s reading was propelled by accelerating expansion in new orders and backlogs and an elevated supplier delivery reading. While all components of the Index expanded during the month, the relatively slower expansion in production, employment and exports kept the Index from advancing higher still. 

The last four months of supplier delivery readings have remained near their recent average reading of 77.5. These elevated results manifest the enduring challenges facing supply chains which have resulted in significantly longer order-to-fulfillment times. Despite the challenges which continue to hamper desired production levels, survey respondents reported the fastest expansion in hiring activity since mid-2014. The increase in hiring, however, was no match for new orders activity which hit its second highest reading since at least 2011. Data through the first half of the year indicated strong demand from both domestic and foreign consumers, which in turn led to a backlog activity reading that increased to its highest level since early 2018.