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March Metalworking Activity Continues January Trends

The Gardner Business Index: Metalworking saw expanding activity in new orders, production and backlog at slightly increased rates in March.

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March readings for the Gardner Business Index: Metalworking ended the month at 61.2, indicating expansion. 

March 2022 Gardner Business Index: Metalworking

March 2022 Gardner Business Index: Metalworking

Images: Gardner Intelligence

Slightly Elevated Expansion in New Orders, Production and Backlogs

New orders, production and backlogs have seen slightly higher readings month-over-month so far in 2022. Readings for 2022 so far trend toward expansion, picking up speed as they show slightly faster expansion each month.

March 2022 Metalworking Production, New Orders and Backlog Readings

Employment showed expansion at a slightly increased rate in March with a reading of 54. Having seen higher employment activity fairly recently (the employment reading for December 2021 landed at 57), sustained expansion is not a given.

The year’s lengthened supplier deliveries stayed about the same for March relative to February, landing around 77. Export activity continued the contraction that resumed in January following a flat end of 2021, ending the month with a reading of 48.

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