Modern Machine Shop

JAN 2018

Modern Machine Shop is focused on all aspects of metalworking technology - Providing the new product technologies; process solutions; supplier listings; business management; networking; and event information that companies need to be competitive.

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Page 161 of 163

GARDNER BUSINESS INDEX MMS JANUARY 2018 160 A.C. Michael Guckes, MBA CHIEF ECONOMIST— GARDNER INTELLIGENCE Industry Is Still Keeping up in Year of Strong Growth Although the Metalworking Index moved lower in November, its average for the year is still at a five-year high. Michael has performed economic analysis, modeling and forecasting work for nearly 20 years. Gardner Intelligence is a division of Gardner Business Media, publisher of this magazine. Registering 55.2, the Gardner Business Index (GBI): Metalworking recorded slower growth during the month of November 2017. This was among the lower monthly readings during a year that experi- enced strong but volatile growth. The average reading for the year is at 55.8, which is significantly higher than the 2015 and 2016 averages, and even slightly above the strong 2014 average of 54.3. The index is up 10.3 percent for the year-to-date period. Gardner Intelligence's review of the underlying data for November indicates that production, supplier deliveries, new orders and employ- ment lifted the Metalworking Index higher, while backlogs and exports contracted in the month and pulled the index lower. This was the first time in 2017 that backlogs contracted. The Metalworking Index fell to slightly below its 2017 average reading in the month of November. The average reading for the year is at 55.8, suggesting that the metalworking industry is on track to finish the year as its best in the past five. Although growth in new orders and production slowed significantly in the month, the three-month moving average shows consistent expansion in both of these components throughout 2017. PRESENTED BY Stay ahead of the curve with Gardner Intelligence. Visit Gardner Intelligence's blog at

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