In its latest report, Gardner Business Media reports that the metalworking industry grew in January for the first time since March 2015 with the Gardner Business Index reaching 53.8.
According to Gardner’s Director of Market Intelligence, Steven Kline, Jr., “New orders increased for the third straight month and at their fastest rate since March 2014. The same was true for the production subindex. Although it is still contracting, the backlog subindex continued the steady improvement that began last June and reached its highest level since August 2014. This trend in backlogs indicates that capacity utilization should increase in 2017.”
Sounding an optimistic note, the full report states that this is the highest index reading since May, 2014 and approaches the fastest rate of growth since April 2012.
With metalworking business indicators showing growing industry strength, it may be time to review your capacity and process improvement plans for 2017. Your local Gosiger representative can help you with the latest machine tool and factory automation technology to keep your shop competitive and profitable.