Moldmaking Industry GBI Follows Industry in Contraction Trend
The October Gardner Business Index (GBI) for moldmaking experienced a second month of contraction.
GBI: Moldmaking contracted for the second straight month in October. Photo Credit, all images: Gardner Intelligence
The Gardner Business Index (GBI) Moldmaking contracted for the second month in a row, closing October at 47.1, a low not seen in nearly two years. The 1.6-point decrease from September reflects a directional trend that other industries — in addition to moldmaking — are manifesting, including metalworking and plastics processing.
New orders continued to contract in October, but at a slower pace than September. Not surprisingly, backlog and production contracted as well. (This graph is on a three-month moving average.)
Similar to September, more components contracted than expanded for the month — four out of six components, to be exact. Backlog and new orders remained neck and neck, and exports continued contract at a steady rate. Employment continued its growth mode in October, to the same degree as September, though anecdotal evidence suggests employment is still not at sufficient levels. Supplier deliveries continued to lengthen at a rate that lands it in more typical territory.
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