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Metalworking Activity Continued to Contract Steadily in August
The degrees of accelerated contraction are relatively minor, contributing to a mostly stable index despite the number of components contracting.
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Metalworking Activity Stayed Consistent in July
Metalworking activity hung together better in July, with all but one GBI component contracting.
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Metalworking Activity Contracts With the Components in June
Components that contracted include new orders, backlog and production, landing on low values last seen at the start of 2023.
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World Machine Tool Production and Consumption Modestly Down in 2022
While global machine tool activity slid back to 2020 levels last year, overall production and consumption were still at historically healthy levels.
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Most Metalworking GBI Components Contracted in May
Four components contracted slightly more than in April, including production, new orders, exports and backlogs.
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Metalworking Activity Contracted Marginally in April
The GBI Metalworking Index in April looked a lot like March, contracting at a marginally greater degree.
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Metalworking GBI Contracted in March After One-Month Reprieve
February’s call for cautious optimism was well placed…market dynamics in March put a damper on what had been metalworking activity’s modest re-entry to growth mode in February.
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Metalworking Activity Crept Into Growth Mode in February
The GBI closed at 50.6 in February, calling for cautious optimism.
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Metalworking Activity Contraction Slows Slightly in January
Most components held steady in January, but new orders and exports showed ever-so-slight slowing of contraction.
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Metalworking Activity Remained Contractionary in December
Metalworking activity remained contractionary at the same rate as in November. Stable contraction is relatively good in the current environment.
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Metalworking Activity Contracted in November
Contraction was hard to dodge with metalworking activity expansion steadily slowing since March.
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Mixed Bag Ahead for US Metalworking Economy
While what has been an extraordinarily robust manufacturing economy has softened in recent months, and the near-term outlook appears to be more of the same, the overall scenario remains strong. Even a possible recession next year does not appear to be an obstacle to continued growth over the next few years.
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