Precision Machining Index Hits Milestone at 50
The Precision Machining Index landed squarely between expansion and contraction in February with positive readings across all components.
The Gardner Business Index (GBI): Precision Machining measures the current state of precision machining activity through survey responses covering new orders, production, backlog, employment, exports and supplier deliveries. A reading above 50 indicates expansion; below 50 indicates contraction.
Source: Gardner Intelligence
February results from GBI: Precision Machining revealed market conditions to be essentially unchanged from the previous month with a flat reading of 50. This marks five consecutive months of improvement for the index as it climbs out of recovery and toward expansion. All components improved on last month’s marks, with new orders and production joining supplier deliveries as the first to rise above 50 since mid-2023.
The GBI Components Scorecard reports the monthly change rate of primary precision machining market factors contributing to the overall monthly index reading.
Reading the Scorecard:
- Color indicates where a component value falls relative to 50 for the current month. Green indicates expansion, and red indicates contraction.
- Shade indicates a value's distance from 50. The darker the shade, the further from 50.
- Direction indicates a value's change versus the previous period. Pointing up is always better.
The GBI Future Business Index is an indicator of the future state of the precision machining market from industry respondents regarding their opinion of future business conditions for the next 12 months. Over 50 is expansion, and under 50 is contraction.
The Future Business Index remained strong while experiencing a slight regression landing at 74.8.
Find the latest precision machining market research and reporting at GardnerIntelligence.com.
