Michael Guckes

Michael Guckes Chief Economist & Director of Analytics

Production Machining Activity Contraction Slows at Year End

By: Michael Guckes

The Precision Machining Index moved higher in the last month of 2019, registering 47.6. December’s relatively higher reading compared with the prior month’s indicates that business activity contracted at a slower rate in the latest month.

Precision Machining Index Extends Contractionary Trend

By: Michael Guckes

The Precision Machining Index was relatively unchanged during November at 46.0; extending its contractionary trend for a fifth month.
#opinion

Aerospace and Automotive Continue to Provide Growth and Opportunity

By: Michael Guckes

This year has been one of transition for manufacturing. But research from Gardner Intelligence indicates that some markets, such as automotive and aerospace, are showing positive signs for 2020.

Activity Contracts on Weak Orders and Contracting Backlogs

By: Michael Guckes

The Precision Machining Index registered 46.1 in October, indicating a slowing contraction in business activity.
#opinion

Precision Machining Index Experiences Third Month of Contracting Activity

By: Michael Guckes

The Precision Machining Index registered 45.9 in September, which marks for a third month of quickening contraction of business activity as reported by surveyed precision machinists.
#opinion

PMI Trends Lower on Weak Backlogs, Employment

By: Michael Guckes

The August PMI indicates that both foreign and domestic new orders contracted in August, but at a lesser rate than in July. Should these readings continue to close in on the 50 mark in the coming months, it will indicate a stabilization in the demand for production machined goods.
#opinion

Employment and Supplier Deliveries Lead PMI

By: Michael Guckes

The Precision Machining Index (PMI) ended 32 consecutive months of expanding activity readings with a July reading of 47.1. Readings above 50 indicate expanding activity and values below 50 indicate contracting activity.
#opinion

Industry Expansion Continues

By: Michael Guckes

The Precision Machining Index registered slowing growth in June with a reading of 50.9. Readings above 50 indicate expanding activity and values below 50 indicate contracting activity.
#opinion

Industry Expansion Still Looking Up

By: Michael Guckes

The Gardner Business Index: Precision Machining expanded at a slightly slower rate as compared with April, registering 54.5 for May.
#opinion

Supplier Deliveries and Production Lift Precision Machining Index

By: Michael Guckes

Compared with the same month one year ago, the Index is 1.8% lower, indicating slowing growth.

Machining Index Surprises with Strong First Quarter Expansion

By: Michael Guckes

The Gardner Business Index: Precision Machining registered 53.9 during March, bringing the first-quarter average reading to 54.8.
#opinion

Index Expansion is Slightly Below Average Expansionary Rate

By: Michael Guckes

February expansion rate is just shy of average 2017-2018 business cycle expansion rate.
#opinion