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Finishing Activity: December Index of 46.3 Ended 2022 With Entire Fourth Quarter in Contraction

Finishing activity was down 1.4 points vs. November.

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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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