Finishing Activity: December Index of 46.3 Ended 2022 With Entire Fourth Quarter in Contraction
Finishing activity was down 1.4 points vs. November.
The Gardner Business Index (GBI): Finishing closed December contracting a little faster than November which contracted a little faster than October, making for a consistent, albeit somewhat concerning, trend.
• The collection of contracting components is not surprising – contracting backlog, new orders, and exports combined to drive contraction in production.
• The trend looks like it may be just a matter of time, call it a month or two, before employment joins the ranks of contracting GBI components.
• Supplier deliveries may be enjoying a reprieve, still expanding, though at slower rates, following lengthened highs inflated by supply chain issues. Deliveries activity can be expected to slow if demand-based components continue to contract and supply chain returns to ‘normal’ dynamics.
The Gardner Business Index (GBI): Finishing
December’s index made for a fourth quarter, 2022, that contracted each month.
Key Component Activity
Contracting demand-based components drove contracting production and contracting finishing activity overall.
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