The Gardner Business Index (GBI): Metalworking registered its first consecutive pair of expansionary readings since June of 2019 thanks to October and November readings of 52.9 and 50.2, respectively. The Index’s slowing expansion reading in November came largely as a result of falling production and new orders. Despite their declines, both measures remained above 50 during November, indicating that a slightly greater proportion of survey respondents reported improving business conditions than those who reported contracting conditions. Readings for employment, backlogs and exports all fell further below 50, signaling a quickening contraction in these areas of business activity. Seasonal shopping demand and COVID vaccine distribution may further complicate the efforts of logistics firms and upstream suppliers to keep manufacturers well stocked with the inputs they need to meet production goals.