Modern Machine Shop ad
Published

Metalworking Activity Stabilizes in July

July closed at 44.2, which interrupts what had been three months straight of accelerating contraction.

Share

Metalworking activity contracted in July — holding steady with June — which interrupts what had been three months straight of accelerating contraction. July closed at 44.2, about the same as June’s 2024 low of 44.3.

Employment has been slowly heading toward flat and, along with exports, was one of the five contracting components that did not contract at an accelerated rate in July.

While new orders, production and backlog contracted faster in July, stabilization of employment and exports, combined with supplier deliveries lengthening at a steady pace, appears to have influenced July’s flat overall index.

Expectations regarding future business remained positive and steady in July.

Line graph

The Metalworking GBI contracted at a steady rate in July. Source: Gardner Intelligence

Stabilization of employment and export contraction, along with supplier deliveries lengthening, drove July’s flat overall metalworking index (3-MMA = three-month moving averages). Source: Gardner Intelligence

Related Content

Become a NTMA member today!
NTMA
NTMA
MMS Online Apr-2021
IMTS+
More blasting. Less part handling.
TIMTOS
IMTS+
MMS ad