Finishing Activity: Overall Finishing Activity Accelerated Contraction in July, Closing at 42.9
Finishing activity experienced accelerated contraction for the third month in a row, down 1.1 points from June. It is down almost 5 points (4.8) from the April reading before it first started to drop, and has not been this low since May 2020.
The Gardner Business Index (GBI): Finishing activity is performing like most manufacturing segments, showing signs of contraction in the past few months.
Key components, new orders, production and backlog all contracted faster in July, driving the overall index contraction.
Exports, generally living in a tight range of contracting values, posted one of its steeper declines (1.3) in July.
Employment was the only contracting component that held its own, staying at about the same value since April.
Supplier deliveries continued to lengthen in July, at a slightly slower pace.
Expectations of future business (not part of the GBI calculation) stayed positive, at about the same value it has been since April.
The Gardner Business Index (GBI): Finishing
Finishing activity contracted at an accelerated rate in July.
Key Component Activity (3-month moving averages)
New orders, production and backlog accelerated contraction, driving contraction in the overall Finishing index.
