Published
Finishing Activity Continued to Contract in November, Closing at 43.6
Finishing activity has now contracted for eight months in a row, not unlike other manufacturing segments tracked.
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The Gardner Business Index (GBI): Finishing has accelerated contraction almost every month since May 2023.
- All but one component contracted in November, two at the same rate as October and three at accelerated rates.
- Contraction rates for employment and exports were stable from October to November.
- Production, new orders, and backlog contracted at accelerated rates, backlog contracting the most and the fastest, which is not surprising when the two closely connected components contract.
- Supplier deliveries continued to lengthen, but at such a slowed rate that ‘flat’ is likely just a month or so away.
The Gardner Business Index (GBI): Finishing
Finishing activity has steadily contracted since April 2023.
Key Component Activity
Contraction of three closely connected components drove Finishing activity contraction overall.
