Finishing Activity Contracts in September, Closes at 44.4

The Gardner Business Index (GBI): Finishing contracted again in September, marking six months straight of decline.   

• All but one component contracted in September, including a solid second month of contraction in employment. 
• New orders and backlog reported the deepest and fastest contraction, down 8.7 points and 5.7 points, respectively, over the past six months.
• Not surprisingly, production also contracted at a faster rate in September.  
• Exports contracted faster again in September, but not to a dramatic degree. The steady contraction in exports over the past six months (March–Sept 2023) was previously observed in the almost parallel six-month period one year ago (Feb–Aug 2022.)
• Supplier deliveries were again the hold-out, lengthening in September at about the same rate as August.

The Gardner Business Index (GBI): Finishing