The contraction of US precision machining slowed in December, data from the Gardner Business Index shows.
Precision machining in the US closed out the year on a positive note, according to the Gardner Business Index (GBI).
Precision machining finished December with an an index of 45.8, up 1.8 points from November, ending the year in a mostly ‘neutral’ territory, although still in contraction.
The contraction in precision machining components generally slowed during the month while supplier deliveries were essentially flat, meaning reports of lengthening and shortening deliveries were about the same. Production and exports also posted stable contraction for the month.
New orders and backlog remained the most contracted components, however, both slowing — still tracking together — and inching closer to production’s level of contraction.
Employment, is the least contracted component for production machining and it experienced a slight slowing of contraction in December.
Business sentiment, which is not part of the GBI calculation, continued the upward trend in place since June 2023.