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Precision Machining Expansion Has Been Quicker to Slow Than Accelerate in 2022

The Gardner Business Index: Precision Machining closed April at 57.9, losing in 1 month the 4 points it took the first quarter of the year to gain.
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Jan Schafer

Director of Market Research

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The Gardner Business Intelligence (GBI) Precision Machining Index indicated components activity was rather unremarkable in April. New orders, production and backlog activity in April were replays of March (See last month’s reading) with readings that remained stacked on top of each other and essentially unchanged. Slightly accelerated employment expansion continued into April. Exports continued to contract at slightly faster rates.

April shows a relatively dramatic slowing of Production Machining expansion.

April shows a relatively dramatic slowing of Precision Machining expansion.

The production reading is representative of April readings for backlog and new orders as well. Employment and export activities ‘carry on’ in their respective expansion and contraction ways in April.

The production reading is representative of April readings for backlog and new orders as well. Employment and export activities ‘carry on’ in their respective expansion and contraction ways in April.

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