Composites industry GBI holds its own in August
The GBI: Composites Fabricating ended August with slowed expansion but managed to stay above water, with all component indices continuing to show slowed rates of growth.
Toeing the line. GBI: Composites Fabricating ended August with slowed expansion but managed to stay above water (a.k.a. the line dividing business expansion and contraction). Photo Credit, all images: Gardner Business Intelligence
The Gardner Business Index (GBI): Composites Fabricating closed August at 52.1, about the same as July’s reading of 51.8. The month represents a reprieve in slowing growth that started in April, barely remaining within the expansion zone.
All component indices showed slowed rates of growth again in August, with new orders holding its position as the lowest component reading. Backlog, production and employment growth decelerated again, landing at indices practically on top of each other for another month. Supplier deliveries lengthened at a continually slowing rate while exports continued to contract at an accelerating rate.
Slowed expansion continues. New orders expansion slowed again in August, barely dodging a “flat” (or “lower”) reading. Backlog followed suit, ending the month with a little more wiggle room than new orders relative to being flat or entering contraction. (This graph is on a three-month moving average.)
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