The contraction of moldmaking activity in the U.S. slowed in December, according to the Gardner Business Index (GBI).
The GBI ended December at a reading of 44.5, up 2.5 points. This is welcomed news coming after the strong contraction experienced in November when the GBI ended the month at a reading of 42, a full 3.5 points down from October.
Most component activity for the month of December was steady with stabilized levels of contraction for new orders, backlog, employment, supplier deliveries and exports. Production was the only component to contract faster in December, but the degree was minimal.
Improvements in inflation and supply chain issues may be at least part of the reason behind improved optimism among U.S. moldmakers and the uptick in the GBI to close out 2023.
