Finishing Activity: October index of 48.9 marks the first month of contraction this year
Finishing activity has not contracted since July 2020.
The Gardner Business Index (GBI): Finishing closed October with more finishers saying activity is slowing down than looking up.
- Three components solidly contracted in October, backlog at a faster rate than new orders and exports.
- Production is essentially flat in October, chipping away at backlog more than fulfilling new orders.
- Supplier deliveries lengthened another month, approaching more typical levels that trends suggest are likely to materialize next month, indicating supply chain pain may be easing.
- Employment activity continued to expand at slowed rates as the labor shortage remains.
The Gardner Business Index (GBI): Finishing
October’s index indicates contraction.
Photo Credit: GBI
Key Component Activity
Three components solidly contracted in October.
Photo Credit: GBI
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