Gardner Business Index for April Falls Slightly
The GBI fell slightly after an 8-month trend of accelerating expansion. The latest reading was supported by readings for supplier deliveries, production and new orders but weighed down by employment and exports.
The latest data signaled that several important changes occurred in the industry during April. Backlog activity readings remain at all-time highs and are presently about 2 points above the prior peak achieved in 2018.
The April reading of the Gardner Business Index (62.7) declined for the first time since November 2020. The slight decline from the prior month’s revised 63.3 reading resulted from a slowing acceleration in new orders and a slight contraction in export orders. Backlog and employment activity both signaled a slight accelerating expansion in activity which was offset by the slowing expansion of production activity. Read more