Published
June Contraction Continues, Closing at 47.1
Finishing activity ended June in contraction, similar to the rest of the second quarter 2023.
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The Gardner Business Index (GBI): Finishing contracted again in June, and to the greatest degree this year.
- The June Gardner Business Index: ‘Contraction’ is the name of the components game in June.
- Specifically, new orders and backlog contracted for a second straight month at an accelerated rate, while exports contracted at a rate fairly even with the past 3 months.
- Production contracted at a faster rate in June, landing at a low not seen since December 2022.
- Employment and supplier deliveries remain hot topics as these components continued to expand or lengthen, respectively, in June.
- Future business, a sentiment question asked in the GBI survey but not used in the calculation, stabilized in June, with the same, higher proportion of shops saying business is looking up than looking down in the next 12 months.
The Gardner Business Index (GBI): Finishing
Finishing’s index contracted again in June.
Key Component Activity
Production fell in line with new orders and backlog, landing squarely in contraction in June.
