Finishing Industry’s Growth Slows
The Finishing Index registered 51.5 in November, coming down off a record-setting month.
Registering 51.5 for November, the Gardner Business Index (GBI): Finishing grew at its second slowest pace in 2017, beating only April’s measure. Including this latest reading, the index’s average for the year to date decreased to 54.0. This is significantly higher than the year-to-date averages in 2015 and 2016, and slightly higher than the 2014 average of 53.9. It is up approximately 5.1 percent for the year-to-date period. Gardner Intelligence’s review of the underlying data for the month of November indicates that supplier deliveries, production and employment lifted the index higher, while new orders, backlog and exports pulled the index lower.
All components of the Finishing Index moved lower in November. Production and supplier deliveries, which have been key contributors to the index’s growth in the year, both moved sharply lower in the month and well below their year-to-date average readings. New orders recorded their lowest reading for the year, remaining nearly unchanged in November at just a few tenths of a point above 50.