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Composites Fabricating Index loses ground in April amid tariff uncertainty

Latest reading of 47.3 is fueled by a drop in new orders as markets react to quick changes in trade policy.

Mike Shirk
Mike Shirk
Senior Market Research Analyst, Gardner Intelligence

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The month of April saw a 4.7-point drop into contraction territory from the Index’s previous reading. 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 Composites Fabricating Index saw a modest decline in April, landing at 47.3. This ends three months of expansion and indicates a return to contraction, for now. New orders took the hardest hit, falling 11 points from March, but stronger readings in February and March kept the component’s three-month average in positive territory at 51.7. Supplier deliveries and employment were bright spots, gaining traction in April despite broader economic uncertainty. The Future Business Index also lost some ground in April but remained generally positive with a three-month average of 61.2.

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.

While the Index took a general downward turn, components like supplier deliveries and employment remained strong, maintaining a positive reading in future business.

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.

Find the latest composites fabrication market research and reporting at GardnerIntelligence.com

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