Finishing Industry's Rally Extends for Third Month
The Gardner Business Index: Finishing registered an all-time high of 59.6 for February, its third consecutive month of growth.
The Gardner Business Index: Finishing further rallied in the second month of 2018, registering 59.6 for February and setting its all-time high. The index was up approximately 7.1 percent from the same month one year earlier.
Data is derived from a monthly survey of finishing shop owners and managers. Gardner Intelligence’s review of the February data indicates that production, new orders and supplier deliveries lifted the index higher, while employment, backlogs and exports pulled the index lower. No components of the index contracted during the month.
Particularly notable was the strong increase in reported supplier deliveries. During the two prior months, new orders growth exceeded that of production, causing backlogs to increase. The latest data for production and supplier deliveries suggest that finishers in February worked diligently with their suppliers to acquire the materials they needed to boost production in light of very strong demand. Furthermore, exports registered their first expansion since December 2014.
Based on all available Finishing Index data, Gardner Intelligence believes this year’s first quarter results could be the best among all first-quarter performances in the history of the index.
Related Content
-
Forms+Surfaces Expands from Humble Beginnings to Global Market Leader
Originally founded in Santa Barbara, California, the company now manufactures in multiple U.S. locations and in India.
-
EPSI Acquires Custom Rack
EPSI is continuing to grow with the acquisition of Custom Rack, based in Euless, Texas.
-
Ronatec Continues to Expand
Ronatec announces acquisition of ICF, growing its portfolio of offerings for the metal finishing market.