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Gardner Business Index Points to Slowing Decline in Business Activity
May’s reading moved significantly higher from April’s all-time low reading. The latest reading implies that overall manufacturing business conditions worsened further in May, but at a much slower rate than experienced in April. Rising readings that are below 50 indicate a slowing rate of contracting business activity. As the overall economy re-normalizes and more businesses re-open, it is reasonable to expect that the Index will see future months of below 50 readings but overall continue to report higher readings in absolute terms.
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Latest reading implies that overall manufacturing business conditions worsened further in May, but at a much slower rate than experienced in April.
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