Composites industry index ends February in growth mode

Composites Fabricating activity bounced back in February following two months of contraction. The Gardner Business Index (GBI): Composites Fabricating closed February at 51.6, following a reading of 48.5 in January. Production and employment components continued growing at slightly faster rates like they have for about four months straight. New orders and backlog, on the other hand, have been contracting for a similar amount of time — since September 2022, specifically — with the pace of this contraction just starting to slow in February. It is a bit puzzling that these four components are not moving together more similarly as they typically do. Supplier deliveries continued to lengthen at an ever-slowing rate, reinforcing that what may be an indication of potential upticks toward expansion for other components are just that — potential upticks — as long as the supply chain shows no signs of being stretched or stressed.