Gardner’s precision machining index showed that business activity contracted for the sixth straight month in August. Half of the sub-indices were better than reported in July, while the other half where worse. Supplier deliveries made the biggest improvement in August, moving to lengthening from shortening. This indicates some momentum to increased activity in the industry. Production gained almost as much, but it contracted for the third month in a row. Also, employment contributed to a higher index, although it contracted for the third consecutive month.
To read more about the latest precision machining index results, please read "Little Changes in Business Conditions."