136 MMS December 2017 mmsonline.com
GARDNER BUSINESS INDEX Metalworking
Industry Sets 6-Year Record
A.C. MICHAEL GUCKES, MBA
CHIEF ECONOMIST
GARDNER INTELLIGENCE
The Metalworking Index hits its highest point since 2011.
R
egistering 57.9 for October, the Gardner Busi-
ness Index (GBI): Metalworking recorded its
highest reading since 2011, raising the year-to-date
average to 55.8 and reaching well above the aver-
age third-quarter reading of 55.3. The index is up
approximately 15 percent and 18 percent for the
year-to-date and 12-month periods, respectively.
Gardner Intelligence's review of the underlying data
for the month indicates that new orders, production
and supplier deliveries lifted the index higher, while
employment, backlogs and exports pulled it lower.
No components contracted in October. The GBI
reading among only job shops also increased in the
month, the third time in 2017 that it has surpassed
the record high hit in March 2012.
More information about the Metalworking Index
can be found at gardnerintelligence.com .
The Metalworking Index
finished at its highest
point thus far in the
calendar year, well above
its year-to-date aver-
age. Strong readings in
production, new orders
and supplier deliveries
have been critical to this
success.
Strength in new orders
has outpaced even the
strong gains in pro-
duction, and this has
resulted record-setting
backlog readings.
Visit the Gardner Intelligence blog at
gardnerintelligence.com/blog or email
mguckes@gardnerweb.com.
35
40
45
50
55
60
65
Jan
13
Jan
14
Jan
15
Jan
17
July
13
July
14
July
15
Jan
16
July
16
July
17
The Metalworking Index
40
45
50
55
Jan
13
Jan
14
Jan
15
Jan
17
July
13
July
14
July
15
Jan
16
July
16
July
17
Metalworking Employment (three-month moving average)
35
July
12