Gardner Business Index: Precision Machining June 2022
Precision Machining’s growth slowed in June.
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The Gardner Business Intelligence (GBI) Precision Machining Index indicates component activity in June can be summed up as ‘slowed growth.’ The GBI: Precision Machining closed June at 55.1, compared to May’s 58.7.
- Even employment growth slowed in June following faster growth each of the three months prior. (See last month’s reading.)
- Backlog, which was one of two components to at least hold its own in May, also slowed in June.
- Exports continued to contract at slightly faster rates.
Precision Machining Business Index
Precision Machining showed slowed growth in June, for just the second month this year.
Employment, Backlog
- Employment had been expanding for a few months straight, but joined other components in slowing in June.
- Backlog activity had been fairly steady, but slowed as well in June.
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