Production Machining

NOV 2017

Production Machining - Your access to the precision machining industrial buyer.

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MICHAEL GUCKES, MBA Chief Economist, Gardner Intelligence Michael has performed economic analysis, modeling and forecasting work for almost 20 years among a range of industries. Michael received his B.A. in political science and economics from Kenyon College and his MBA from The Ohio State University. mguckes@gardner Supplier Deliveries, New Orders Lift Business Index Production and employment sustain index growth. 70 65 60 55 50 45 40 35 PRECISION MACHINING INDEX 65 60 55 50 45 40 PRECISION MACHINING NEW ORDERS AND PRODUCTION 1/13 7/13 1/14 7/14 1/15 7/15 1/16 7/16 1/17 7/17 1/13 7/13 1/14 7/14 1/15 7/15 1/16 7/16 1/17 7/17 Growth in the Precision Machining Index has slowed since reaching a multi-year high in May 2017. At that time the component readings for new orders and production pushed the overall index into record territory. The three-month moving average of production and new orders illustrates the slowing growth in two of the most significant components, which pushed the Precision Machining Index to a multi-year high earlier in 2017. 53.5 n Production n New Orders GARDNER BUSINESS INDEX: PRECISION MACHINING 14 PRODUCTION MACHINING :: NOVEMBER 2017 R egistering 53.5 for September, the Gardner Business Index (GBI): Precision Machining registered its lowest monthly reading in 2017. is latest reading lowers the year-to-date index average to 55.5 and closed the third quarter with an average 54.9 reading. For the year-to-date and 12-month periods, the index changed approximately -2 percent and 2 percent, respectively. Gardner Intelligence's review of the underlying data for the month indicates that supplier deliveries, production, employment and new orders lifted the business index higher while backlog and exports pulled the index lower. e only component that contracted for the month was exports, which fell to a 16-month low after having registered a slight expansion in the prior month. Among the components of the Precision Machining Index during the third quarter, production, new orders and backlog readings indicated slowing growth. is contrasts with supplier delivery and employment readings, which throughout 2017 have shown continuous growth. Stay ahead of the curve with Gardner Intelligence. More information about the Precision Machining Index can be found at

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