Published
October Marks Seven Months of Finishing Activity Contraction
Finishing activity contracted again in October, closing at 44.4, exactly the same as September.
The Gardner Business Index (GBI): Finishing contracted in October to the same level as September.
- All but one component contracted in October, representing moves in all possible directions between them.
- Specifically, new orders saw a slight uptick while employment stabilized.
- Production, exports, and backlog accelerated contraction ever so slightly in October.
- Supplier deliveries wereagain the holdout, lengthening in October at a slightly slower rate, and ending the month knocking at the door of flat-to-shortening.
The Gardner Business Index (GBI): Finishing
![Finishing activity has contracted for seven months in a row.](https://d2n4wb9orp1vta.cloudfront.net/cms/brand/PF/2023-PF/2023-10- PF - Web Total.png;maxWidth=720)
Finishing activity has contracted for seven months in a row.
Key Component Activity
![New orders’ uptick in the absence of production doing the same suggests new orders areis an outlier in October (i.e., unlikely to slow contraction against next month.)](https://d2n4wb9orp1vta.cloudfront.net/cms/brand/PF/2023-PF/2023-10- PF - Web Prod-NO.png;maxWidth=720)
New orders’ uptick in the absence of production doing the same suggests new orders are an outlier in October (i.e., unlikely to slow contraction against next month.)