CompositesWorld
Issue link: https://cw.epubxp.com/i/919214
JANUARY 2018 12 CompositesWorld GARDNER BUSINESS INDEX: COMPOSITES FABRICATING November 2017 – 54.3 » Registering 54.3 in November 2017, the Gardner Business Index (GBI): Composites Fabri- cating moved lower after establishing an impressive, all-time high of 59.8 in October. e decline in the Index reading indicates only that the composites industry grew more slowly in November than in October. But for the calendar year-to-date period, an average composite reading of 55.0 means 2017 is almost certain to beat the 2014 monthly average high of 54.1. For the year-to- date period, the Index is up 5.3%. e Gardner Intelligence review of the underlying data for November indicates that Employment, Production, New Orders and Supplier Deliveries were the subindices that lifted the Index up, while Backlogs and Exports held it down. No component of the Composites Fabricating Index contracted during the month, although exports posted no change after a multi-year, record-high reading in October. All components of the Index indicated slowing growth, with Backlogs exhibiting the most dramatic decline: e Backlogs reading changed by approximately 9 points, signaling a transition from very fast growth in October to nearly no growth in November. The Composites Fabricating Index returns to near calendar-year average Michael Guckes is the chief economist for Gardner Intelligence, a division of Gardner Business Media (Cincinnati, OH US). He has performed economic analysis, modeling and forecasting work for nearly 20 years in a wide range of industries. Guckes received his BA in political science and economics from Kenyon College and his MBA from Ohio State University. mguckes@gardnerweb.com ABOUT THE AUTHOR Composites Fabricating Index shows slower but still strong growth The Composites Fabricating Index reading for November fell from the prior month. However, the November reading was comparable to readings from the first-half of the year and the year-to-date average reading. New Orders fall, taking Backlogs with them The New Orders number fell more sharply than that for the Production subindex in November, which may have contributed, in part, to the exceptional change in the Backlogs index, which moved nearly 9 points in one month to end just above 50.0. Stay ahead of the curve with Gardner Intelligence. Visit the blog at gardnerintelligence.com or e-mail mguckes@gardnerweb.com PRESENTED BY