Composites Index experiences fluctuating expansion
The GBI: Composites Fabricating continues to shift between accelerated and slowed expansion in short periods of time, but not enough to anticipate risk of contraction.
Index shifts. GBI: Composites Fabricating shifts between accelerated and slowed expansion in short periods of time for the past 12 months. The April reading specifically saw slowed expansion.
The Gardner Business Index (GBI): Composites Fabricating lost almost all of the gains it made over the course of Q1 2022, closing April with a reading of 57.6, just one point higher than the most recent low reading in December 2021. In fact, the composites industry expansion rate slowed rather dramatically in April — in comparison to the 61.4 March reading — but not enough to anticipate risk of contraction.
Highs and lows. Employment shows faster expansion in April, to the tune of about +3.6 points since March. Exports, on the other hand, contracted faster in April, to about the same degree employment expanded, but over the course of four months. (This graph is on a three-month moving average.)
Most component readings reflect this month’s activity, with orders and production slowing only slightly. One exception to this is employment which has been expanding at faster rates each month of 2022, indicating that hiring may be on the rise. Nearly the mirror image of employment is exports which has been contracting at faster rates each month since February, suggesting that global political issues are continuing to affect trade.
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