The Gardner Business Index (GBI): Finishing has accelerated contraction almost every month since May 2023.
All but one component contracted in November, two at the same rate as October and three at accelerated rates.
Contraction rates for employment and exports were stable from October to November.
Production, new orders, and backlog contracted at accelerated rates, backlog contracting the most and the fastest, which is not surprising when the two closely connected components contract.
Supplier deliveries continued to lengthen, but at such a slowed rate that ‘flat’ is likely just a month or so away.
The Gardner Business Index (GBI): Finishing
Finishing activity has steadily contracted since April 2023.
Key Component Activity
Contraction of three closely connected components drove Finishing activity contraction overall.
