Metalworking Growth Stays Consistent in August
All components of metalworking activity contributed to the consistent slowdown in the past few months.
The Gardner Business Index for Metalworking reports new order activity was contracted at a faster rate in August. Backlog and production reportedly showed slowed growth again, but remained “above the line” in August. Additionally, employment growth and lengthening of supplier deliveries slowed again in August. Export activity continued its path of contraction at a faster rate.
Metalworking expansion closed August at about the same level as July. Photo Credit: Gardner Business Intelligence
New order activity contracted at a faster rate in August. Related components, backlog and production grew slower in August, but managed to keep out of contraction for one more month (3MMA = three-month moving averages). Photo Credit: Gardner Business Intelligence
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