Finishing Activity: Expansion Slowed Again in June, Closing at 54.5 Index
June is just the second month of slowed expansion for Finishing this year.
The Gardner Business Index (GBI): Finishing closed June with slowed expansion.
- Backlog, new orders, and production indices all paralleled the overall Finishing index with slowed expansion, while lengthening of supplier deliveries slowed (a good thing) for another month since its artificial high in October 2021.
- Even employment activity saw slowed expansion in June, the first time since February 2022.
- Export activity contracted at about the same rate as every other month this year.
The Gardner Business Index (GBI): Finishing (Total index)
June’s reading showed further slowing of expansion.
Key Component Activity
The story is consistent for Finishing in June – all key GBI components slowed, employment for the first time in a few months with new orders slowing the most, and to the lowest reading among expansion components.
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