The metalworking industry remained flat in January 2013, contracting for the seventh consecutive month, but showed signs of improvement, according to the Metalworking Business Index released by Modern Machine Shop (MMS).
The January Metalworking Business Index (MBI) had a reading of 49.7, up 4.9 percent from December, but still showing contraction. Any MBI reading above 50 signifies growth, while below 50 signifies contraction. The December reading of 44.8 represented MBI contraction, but showed signs of slowing; January’s MBI figure continued to point to a recovering industry.
Every MBI sub-index showed improvement, with many exceeding the 50 percent bulwark needed for improvement. New Orders (52.6), Production (50.4) and Employment (50.9) all cross the threshold into growth, while Material Prices (66.5), Prices Received (52.9) and Future Business Expectations (63.7) continued to increase. Backlog (43.0) and Exports (47.7) both showed improvement, but still signified contraction.
To view the whole MBI report, please see here.