Composites activity still contracting, but slower than previous month

The Gardner Business Index (GBI) is an indicator of the current state of composites fabricating considering survey responses regarding new orders, production, backlog, employment, exports, and supplier deliveries. Over 50 is expansion. Under 50 is contraction.

The August GBI shows the composites fabrication market is still contracting overall but a bit slower than the previous month — it is up almost 2 points from a fall of more than 4 the month prior. The index’s future business outlook is improving but is also slower than July’s numbers. Overall, most measures have slowed or stayed the same, but prices received are one metric where the index shows slightly faster growth.

New orders, production components, employment, backlog and supplier delivery accelerated contraction for the third month in a row, driving the majority of the index decline.

Employment accelerated contraction for the second consecutive month since March 2024, while exports were “flat,” and supplier deliveries continued to lengthen, though more slowly than in July.

The GBI Future Business Index is an indicator of the future state of the composites fabrication market considering industry respondents regarding their opinion of future business conditions for the next 12 months. Over 50 is expansion and under 50 is contraction.

The index remained positive but shows continued contraction indicating slower future growth expectations.

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