Moldmaking Industry Contracts for First Time in Two Years
The September Gardner Business Index (GBI) for moldmaking indicates more components are contracting than expanding.
GBI: Moldmaking entered the contraction zone in September. Photo Credit, all images: Gardner Business Intelligence
The Gardner Business Index (GBI) Moldmaking closed September at 48.7 following two months of flat activity. It has been nearly two years (November 2020) since moldmaking activity contracted, though activity has been moving toward an index of 50 (deceleration) since March.
Four out of six of the components studied contracted in September. Production, backlog and new order readings contracted faster that month, while exports contracted at a steadier rate. Employment growth slowed again, flirting with “flat” activity which has not been seen for two years, and which has been a persistent trend for the GBI overall since May 2022. Supplier deliveries continued to lengthen, but at a continually slowing rate.
New orders experienced accelerated contraction, leading the other contracting components. Production quickened its own decelerating growth pace to land solidly in contraction as well. (This graph is on a three-month moving average.)
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