Metalworking production in the U.S. remains volatile with the business index contracting slightly in April following the expansion in March. PHOTO courtesy Honda.
The Gardner Business Index for metalworking in the U.S. closed at 48.0 in April, down almost one point versus March.
Similarly, components minimally strayed from March readings in April, with Three of the six components tracked by the index—new orders, exports and backlog—contracted at the same pace or a bit faster versus last month.
Production had crept into expansion in March but it showed no growth in April.
Supplier deliveries, however, continued to lengthen and employment continued expanded more quickly in April. A separate but related non-GBI metric, future business, still expanded, but at a slower rate in April. The expansion was at the slowest rate since July 2022.