Gardner Business Index: Precision Machining July 2023
Precision machining activity for July was steady with June.
#columns
The Gardner Business Index: Precision Machining ended July with an index of 46.2, about the same as June’s 46.5, which represented a two-point drop versus May.
GBI: Precision Machining component activity saw more of the same in July. Every component slowed expansion or accelerated contraction, with one exception.
- Exports contracted at a fairly steady rate in July.
- Backlog, new orders and production continued to contract at a picked-up pace.
- Production continued to contract, still lagging new orders and backlog, but catching up (or down, as the case may be) is within reach.
- Supplier deliveries lengthened at a continually slowing rate, making supply chain a non-issue according to GBI.
- Employment expanded slowly for another month, landing on the cusp of flat.
A longer-term view is more encouraging per a sentiment that is not calculated as part of the GBI — more shops believe business will be up in the next 12 months than believe it will be down.
Precision Machining activity contracted in July, closing at 46.2. Photo Credit: Gardner Intelligence
Supplier deliveries appear to be a non-issue while employment steadily heads toward flat following months of expansion (3-MMA = three-month moving average). Photo Credit: Gardner Intelligence
RELATED CONTENT
-
What Does 2021 Have in Store for the Parts Cleaning Industry?
With a new opportunity to do good things in your organizations this year, I hope you use the parts cleaning section and this year’s and last year’s Parts Cleaning Conference as tools to succeed.
-
What Machine Shops Should Know About Material Bar Straightness
Many operations require a high degree of bar straightness, especially when the material is to be presented to a machine by a bar feeder. For that sector of the market, the following is a brief review of the steps your bar supplier can take to ensure positive results.
-
6 Tips for Training on a Swiss-Type Lathe
There are nuances to training a person to effectively operate a Swiss-type lathe. A shop I visited a while back offers some suggestions.