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Metalworking Index Holds Steady After Scorching First Quarter

The metalworking manufacturing industry reported constant expansion in April, with the Gardner Business Index (GBI): Metalworking holding steady at a reading of 62.2.
The Metalworking Index remained at 62.2 in May. The reading for supplier delivery activity offset declines in new orders, production and employment.
The unchanged reading resulted from a rising supplier delivery reading that was offset by slowing expansion in most other index components. Supplier delivery activity posted its fifth sequential all-time high in May. The latest reading is almost 17 points above the pre-COVID high established in mid-2018. New orders, production and employment activity reported slowing expansion during the month. Export activity contracted for a second consecutive month after posting a multi-year high in March. ....

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