The Composites Fabricating Index returns to near calendar-year average
The Composites Fabricating Index shows 54.3 for November 2017.
Registering 54.3 in November 2017, the Gardner Business Index (GBI): Composites Fabricating moved lower after establishing an impressive, all-time high of 59.8 in October. The decline in the Index reading indicates only that the composites industry grew more slowly in November than in October. But for the calendar year-to-date period, an average composite reading of 55.0 means 2017 is almost certain to beat the 2014 monthly average high of 54.1. For the year-to-date period, the Index is up 5.3%. The Gardner Intelligence review of the underlying data for November indicates that Employment, Production, New Orders and Supplier Deliveries were the ones that lifted the Index up, while Backlogs and Exports held it down.
No component of the Composites Fabricating Index contracted during the month, although exports posted no change after a multi-year, record-high reading in October. All components of the Index indicated slowing growth, with Backlogs exhibiting the most dramatic decline: The Backlogs reading changed by approximately 9 points, signaling a transition from very fast growth in October to nearly no growth in November.