Composites GBI lost a little ground in June
The GBI: Composites has contracted since April, just barely remaining within a two-point range of 50.
Downturned activity. GBI: Composites Fabricating in June is slightly down versus May. Photo Credit, all images: Gardner Intelligence
The June Gardner Business Index (GBI): Composites Fabricating could be worse and it could be better. A reading of 48 is down one point from May, just barely staying within a two-point range around flat, or a reading of 50.
The three closely linked manufacturing GBI components, new orders, production and backlog, contracted faster in June for the second month in a row. Employment and supplier deliveries tracked hand-in-hand in June, both in expansion territory, but even this activity has slowed the past couple of months.
Slowing down. Supplier deliveries and employment remain in expansion, but growth rates have slowed. (This graph is on a three-month moving average.)
Future business, a sentiment/outlook measure included in the survey that is not part of the index calculation, but related to it, sometimes paints a more positive picture than GBI components because of its “look ahead” nature. However, that is not the case for the composites industry at this time, given the future business metric joined supplier deliveries and employment in expanding more slowly in June.
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The GBI: Composites closed May at the same reading reported in April, with some minor fluctuations in component activity.
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The GBI: Composites Fabricating continues to shift between accelerated and slowed expansion in short periods of time, but not enough to anticipate risk of contraction.
