CompositesWorld

MAR 2018

CompositesWorld

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MARCH 2018 16 CompositesWorld GARDNER BUSINESS INDEX: COMPOSITES FABRICATING January 2018 – 58.4 » Registering 58.4 for January, the Gardner Business Index (GBI): Composites Fabricating started 2018 only slightly below the peak reading recorded in 2017. e January reading sustained strong fourth-quarter 2017 performance, which averaged 56.5, with the peak coming in October, surpassing 59.0. Compared to the same month one year earlier, the Index had increased approxi- mately 8 points. e Gardner Intelligence review of the underlying data for the month indicates that Production and Supplier Deliveries lifted the Index higher while Backlogs and Exports held the Index down. at said, no Index component showed contraction (<50.0) during the month. As January closed out, GBI survey respondents indicated that Production and New Orders had been, in recent months, the most significant drivers of the overall Index, followed by Employment and Supplier Deliveries. During that same period, New Orders growth had exceeded Production growth. In such instances, Gardner Intelligence has commonly found a near immediate upswing in either Backlogs or Exports or both. e data from third-quarter 2017 and January 2018 indicate that both Backlogs and Exports are increasing, suggesting that a growing portion of New Orders may be coming from foreign consumers. A 9% decrease in the value of the US dollar during 2017 also might explain some of the increase in demand from customers based outside the US during that four-month period. The US Composites Industry in 2018: A strong start 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 in 2018 begin near 2017 high The Composites Fabricating Index ended January within 1 point of the high reading from 2017. The strong growth in Production and New Orders suggests that the industry is starting 2018 well-positioned for continued growth. Healthy growth and trend toward Exports Strong expansionary readings in the New Orders and Production subindices suggest that the industry is growing at a very healthy rate. Expansion in Exports suggests that a growing portion of New Orders are from customers outside the US. Stay ahead of the curve with Gardner Intelligence. Visit the blog at gardnerintelligence.com or e-mail mguckes@gardnerweb.com PRESENTED BY 58.4

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