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October Sees Moderate Contraction, but Growing New Orders
The GBI for October was 48.3, signaling a fourth month of mildly contracting business activity across the U.S. manufacturing sector. However, total new orders continue to do well. Based on a three-month moving average, the best performing end-market as of October was aerospace, followed by medical equipment manufacturing. The market for construction machinery continued to experience the fastest rate of contracting business activity, mirrored by a similarly enduring contraction in the industrial motors market.
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