Gardner Business Index for May Moves Lower to 61.3
Manufacturers continue to balance challenging production conditions with strong new orders activity. Delays in supplier deliveries and a lack of available new hires give some explanation for the rising levels of backlogs experienced in the year-to-date period.
Backlog levels have risen dramatically in the year-to-date period as new orders activity outpaces production.
The Gardner Business Index moved lower for a second consecutive month during May to 61.3. In the last two months, the Index has fallen only slightly from its March high of 63.3. When taken at face value, declining month-to-month readings indicate that the industry is experiencing a slowing expansion. However, recent headline totals cannot provide the far richer story told by the individual movements of the Index’s underlying components. Read more
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