Composites Index rebounds in November
The GBI: Composites Fabricating closed November up nearly two points, registering expanding activity versus October’s close call with contraction.
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Expansionary territory. GBI: Composites Fabricating activity ended November in expansion following a “flat” October. That means more fabricators said business is looking up than said it is slowing down. Photo Credit, all images: Gardner Intelligence
After toeing the line between expansion and contraction begun in September, the Gardner Business Index (GBI): Composites Fabricating closed November at 51.9, an almost two-point jump following October’s reading. Time will tell whether this expanding composites activity sustains.
Three of the six GBI components broke through what has been a downward trend in activity — employment, production and exports all hint at heading in a favorable direction in November. In fact, production activity moved into expansion territory (just barely) from September’s contractionary period. Backlog and new orders activity contracted for the third month in a row, while exports activity has been contracting for nine months straight. Supplier deliveries resumed lengthening at a slower rate, suggesting supply chain issues continue to have less of an impact.
Making headway. Employment, production and export activity changed ever so slightly, moving in a more positive direction in November. (This graph is on a three-month moving average.)
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