Precision Machining Rose Nearly 4 Points for Year
12月活动减速放缓emplo为首yment and new orders.
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TheGardner Business Intelligence(GBI): Precision Machining Index fell more than 2 points in the final month of 2021 to close at 57.3. (Seelast month’s reading.) The month’s decline resulted from all six components of the Index moving lower. However, the largest declines came from new orders and employment. Among all measures, only export activity registered contracting activity, while the decline in all other measures signaled only slowing expansion.
Precision Machining Index:The Precision Machining Index ended 2021 nearly four points above where it started the year. The gain was primarily driven by weaker supply chain performance, which elevated the reading for supplier deliveries. Other components were little changed between their December 2020 and 2021 readings.
December marked the sixth consecutive month during which supplier delivery activity readings declined; inferring that supply chain performance — while still far worse than at any time pre-COVID-19 — could be in the early stages of stabilizing. Declining readings are currently only possible because a growing proportion of surveyed respondents are reporting either no change in, or even improving, supply chain performance. Looking forward, further declines in supply chain readings could help lift production levels and bring down elevated backlogs. The possibility of such an outlook is fortified by the Index’s Material Prices data which proxies for material input prices. The indexed reading of prices fell by 3.5 points in December, its greatest one-month decline in nearly two years.
Supply Chain Readings May Be Signaling Modest Relief:Surveyed production machinists reported a sixth consecutive month of declining supplier delivery activity. This declining trend may be an early indication that supply chain performance is stabilizing, if not slightly improving. (Chart data illustrated as 3-month moving averages.)
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