Overall composites index contracting faster than previous month
New orders, production and prices components all improved over October, though the GBI is still seeing contraction.
The month of October saw a slight downward shift in the Composite Fabricating GBI from September’s 44.3 reading, returning it to a contracting state. Source (All Images) | Gardner Intelligence
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 October GBI shows the composites fabrication market contracted in October slightly from the previous month, but individual data points — including new orders, production, prices received and future business outlook — improved (were more positive). Backlog increased slightly, as did supplier deliveries but material prices dropped nearly half a point.
The GBI Components Scorecard reports the monthly change rate of primary composites market factors contributing to the overall monthly index reading.
Reading the scorecard
Color indicates where a component value falls relative to 50 for the current month. Green indicates expansion; red indicates contraction.
Shade indicates a value’s distance from 50; the darker the shade, the further from 50.
Direction indicates a value’s change versus the previous time period. Pointing up is always better.
Future business outlook improved by 1.3 points.
The GBI Future Business Index is an indicator of the future state of the composites fabrication market industry respondents regarding their opinion of future business conditions for the next 12 months. Over 50 is expansion and under 50 is contraction.
October’s index remained positive and improved more than a point from the previous month.
Find the latest composites fabrication market research and reporting at GardnerIntelligence.com
Related Content
-
Composites industry index ends February in growth mode
The GBI: Composites Fabricating closed February at the same level it was in November 2022, right before experiencing a rare two months of contraction.
-
GBI: Composites Fabricating contracted in April
The Gardner Business Index closed April down 1.1 points, continuing its journey from expansion in February, to flat in March and ultimately contracting in April.
-
Composites industry GBI contracted faster in July
The GBI: Composites maintains its consistent downward trend for the fifth month in a row.
.jpg;maxWidth=300;quality=90;format=webp)
