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Gardner Business Index: Precision Machining July 2022

In July, Precision Machining saw a bit smaller GBI drop than was seen in June.

Jan Schafer

Director of Market Research

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The Gardner Business Intelligence (GBI) Precision Machining Index closed July at 52.9, compared to June’s 55.1.

GBI: Precision Machining component activity in July is more of what we saw in June (see last month’s reading).

  • Every GBI component decelerated growth in July, most having started moving in that direction in April. 
  • New orders showed the longest, deepest growth deceleration, landing a full 10 points down since March — a low reading not seen in almost 2 years.
  • Production followed suit with a 7-point decline since March, and backlog behaved similarly. 

Precision Machining Business Index

Precision Machining showed slowing growth for the second straight month in July.

Precision Machining showed slowing growth for the second straight month in July.

Key Components (3-month moving averages)
• GBI components, new orders and production typically move in concert as they did in July. • New orders declined more dramatically in July, ending the month at the lowest of the six component readings

GBI components, new orders and production typically move in concert as they did in July. New orders declined more dramatically in July, ending the month at the lowest of the six component readings.

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