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Index remains in expansion territory despite uncertainties

The composites market saw a slight decline in the index, component and future business results but maintained a positive reading overall.

Mike Shirk
Mike Shirk
Senior Market Research Analyst, Gardner Intelligence

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The Composites Fabricating Index saw a small blip in the expansion seen the last two months, dropping 0.6 point. 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 registered a reading oft 51.4 in March, dropping less than one point from it’s February position. This activity suggestions that the composites market is still experiencing growth and is in a good position. Gains in new orders and backlogs were offset by declines in employment and exports, although all components improved from their readings in March 2024. The Future Business Index remains secure despite stepping back from the high readings seen the last two months amid economic concerns andtariff uncertainty.

Industry has made gains in new orders and backlogs while other components are on the cusp or have seen some decline.

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.

The outlook on future business activity, though this was not unexpected among increasing uncertainty in the U.S.

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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