Composites industry gained back some ground in December
The GBI: Composites Fabricating contracted a little more slowly in December, landing between August and September 2023 values.
A step in the “right” direction. GBI: Composites Fabricating in December was up 0.6 points relative to November. Photo Credit, all images: Gardner Intelligence
The GBI: Composites fabricating activity remained in contraction in December, slowing a bit to close at a reading of 46.2 compared to November’s 44.9. While December marks the eighth straight month of contraction, the slight reading increase may be indicative of more positive readings heading into January 2024.
Employment’s contraction activity slowed down the most out of the other GBI components, almost nearing flat — perhaps a function of growing optimism for business in the next 12 months (not included in GBI calculation). Lower inflation and fewer supply chain concerns may have more shops gearing up for new orders. Other components, backlog and new orders, slowed in their contraction or stabilized, respectively. Production and exports continued on paths of slightly accelerated contraction while supplier deliveries remained flat.
Inching up. Employment and backlog likely contributed to December’s slowed contraction. (This graph shows three-month moving averages.)
Related Content
-
Composites industry heads into slightly accelerated contraction in November
The GBI: Composites Fabricating in November continued its general slow-going path of contraction that began in April 2023.
-
Composites GBI shows faster activity contraction
The total index reading backed down in May from its anticipated expansion, contracting again to land at 46.8.
-
Composites GBI remains relatively unchanged in May
The GBI: Composites closed May at the same reading reported in April, with some minor fluctuations in component activity.
