The Moldmaking Index fell sharply in May. The month’s results were surprising as survey participants reported strong new orders while simultaneously reporting contracting backlogs.
With a large portion of the industry having released its data for the first quarter, capital expenditures for the industry reported contracting growth.
The Gardner Business Index (GBI): Moldmaking reached its highest level in nearly a year with an April reading of 55.7, a level which it last registered in May 2018. Readings above 50 indicate expanding business activity, while a value of 50 indicates no change and below 50 indicates contracting business activity.
The Gardner Business Index (GBI): Moldmaking registered 52.6 in February, extending its narrow range of growth readings since September 2018, when it registered less than 200 basis points higher.
From a domestic perspective, the electronics industry seems expected to follow in-line with the overall economy’s growth for 2019, though firms with greater exposure to China may have to be more cautious during the year.
U.S. manufacturing will see significant impacts to the agriculture, aerospace and software industries because of the changing trade stance between America and it’s top trading partners including China, Canada and Mexico