The Gardner Business Index (GBI) for metalworking posted a stronger reading in October, rising to 57.5. According to Gardner Intelligence data, this was the highest level since April 2022 and marked the tenth consecutive month of expansion. In the GBI framework, readings above 50 indicate expanding activity, while readings below 50 point to contraction.
The index gained three points from September, and the improvement was broad across the survey’s main measures: new orders, production, backlog, employment, exports and supplier deliveries. Production led the move higher, rebounding six points to 60.3 after a one-month pullback. New orders also improved sharply, gaining more than four points and moving back above 60.
Employment strengthened by nearly four points, while backlog also improved. Supplier deliveries stayed elevated at 63.9, a level the report associates with shops being busy enough to extend lead times. Exports improved by nearly two points, but they remained the only component still below the 50 threshold.
On pricing, the source material said material prices and prices received were both roughly stable. The Future Business Index also edged higher, with its three-month average at 66.3, indicating that optimism about business conditions over the next 12 months is holding in the metalworking sector.
The three-month average view of the scorecard also pointed to a broadly expanding market. Five of the six components were in expansion territory, with exports the only exception. All six remained above their year-ago levels. Taken together, the October data suggest a healthier operating environment for metalworking and machining companies, supported by a demand recovery spread across multiple activity indicators.
