Most Â鶹´«Ã½ GBI Components Contracted in May
Four components contracted slightly more than in April, including production, new orders, exports and backlogs.
Share
The Â鶹´«Ã½ GBI closed at 48.3 in May, about the same as April’s 48.0. Overall, Â鶹´«Ã½ activity held its own in May despite contraction of most components. Four components contracted slightly more than the month before, including production, new orders, exports and backlog, each nearing a low last seen in December 2022 or January 2023. Supplier deliveries lengthened more slowly again in May while employment expanded again, but at a slightly slower pace.
Separate but related non-GBI metric, future business, expanded again in May, but at a slower rate, similar to that of December 2022.
If April-May trends continue, all components will find their way to contraction in the next three months or so.
Â鶹´«Ã½ GBI in May looks a lot like April, contracting for a third month in a row. Photo Credit: Gardner Intelligence.
Production officially contracted in May, along with new orders, exports, and backlog (3-MMA = three-month moving averages). Photo Credit: Gardner Intelligence.
Related Content
-
Â鶹´«Ã½ Activity is Nearing a Full Year of Contraction
Â鶹´«Ã½ activity has contracted since October of 2022.
-
Â鶹´«Ã½ Activity Trends Downward in May
Accelerated contraction and declines in business optimism span manufacturing segments. Odds are that broad-reaching economic factors are at play.
-
Â鶹´«Ã½ Activity is on a Roll, Relatively Speaking
February closed at 47.7, up 1.4 points relative to January, marking the third straight month of slowed contraction.
