Metalworking Index Shows Continued Recovery
December marks third consecutive month of metalworking improvement on the heels of increased supplier deliveries.
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The Gardner Business Index (GBI): Metalworking measures the current state of metalworking and machining activity through survey responses covering new orders, production, backlog, employment, exports and supplier deliveries. A reading above 50 indicates expansion; below 50 indicates contraction.
The metalworking industry registered a GBI reading of 46.9 in December 2024. Supplier deliveries emerged as the strongest component, showing gains both month-over-month and versus the previous year, while other components including employment and exports registered contractions from the previous month.
The GBI Components Scorecard reports the monthly change rate of primary metalworking market factors contributing to the overall monthly index reading.
Reading the Scorecard:
- Color indicates where a component value falls relative to 50 for the current month. Green indicates expansion, and red indicates contraction.
- Shade indicates a value's distance from 50. The darker the shade, the further from 50.
- Direction indicates a value's change versus the previous period. Pointing up is always better.
The GBI Components Scorecard reveals an overall positive performance across key metrics in December. Supplier deliveries emerged as the strongest component, showing gains both month-over-month and versus the previous year. Employment, production, exports, new orders and backlog all registered contractions, though all of them did so at improved rates compared to last month.
The GBI Future Business Index is an indicator of the future state of the metalworking market from industry respondents regarding their opinion of future business conditions for the next 12 months. Over 50 is expansion, and under 50 is contraction.
The Future Business Index surged to 68.1 in December, reaching its highest level in recent years. This dramatic improvement in sentiment suggests growing optimism among metalworking manufacturers about business conditions over the next 12 months.
Find the latest metalworking market research and reporting at GardnerIntelligence.com.
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