PRODUCTS FINISHING — PFonline.com
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With a reading of 51.4, the Gardner Business Index showed
that the finishing industry expanded for the fourth month in
a row. The rate of growth slowed noticeably in April, however
the first four months of 2017 are the first growth in the
industry since the beginning of 2015.
New orders grew for the fourth straight month, but the rate
of growth in April was easily the slowest in 2017. The same
could be said of production, but its rate of growth has deceler-
ated the last two months. The backlog index contracted for
the second month in a row, still, the overall trend indicated
capacity utilization should increase in 2017. The employment
index grew for the sixth month in a row. While the rate of
growth slowed, the upward trend in the employment index
remains in effect. Exports continued to contract, and supplier
deliveries lengthened 14 out of the last 15 months at a gener-
ally accelerating rate.
Since late 2015, the material prices index has increased
significantly, increasing at its third fastest rate since the
survey began in December 2011. The rate of increase was only
slightly less than last month. Prices received increased for
the fifth month in a row at a relatively constant rate. Future
business expectations were still strong, but the index has
dropped considerably since December 2016.
Industrial motors/hydraulics/mechanical components,
primary metals and hardware all demonstrated an index
above 60.0. Electronics/computers/telecommunication expe-
rienced solid growth for the third straight month. The aero-
space industry grew for the seventh time in eight months. The
forming/fabricating industry grew for the fifth month, but the
rate of growth slowed noticeably in April. Automotive was flat
after four months of growth.
Only the North Central-West and North Central-East grew
in April. The North Central-West was the fastest growing
region. Both regions grew for the fourth consecutive month.
The South Central, Southeast, and West had moderate
April 2017 — 51.4
Finishing industry expands for the fourth consecutive month.
contraction and the Northeast
contracted somewhat faster.
Plants with more than 250
employees expanded for the
sixth time in seven months
with an index above 60.0
in the last two months.
Facilities with 100-249
employees grew at a strong
rate for the fifth month
in a row and those with
50-99 employees contracted
for the first time since
November 2016. Finishers
with 20-49 employees
grew for the fourth month
and those with fewer
than 20 employees
contracted for the first
time this year.
STEVEN R. KLINE JR.
Director of Market Intelligence
skline2@gardnerweb.com
Gardner Business Media Inc.
gardnerweb.com/economics/blog
GARDNER BUSINESS INDEX: FINISHING
Finishing Business Index
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