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.
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.
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