Steve Kline Jr. on MMS Online reports in October issues on Modern Machine shop that August numbers are contracting faster in New Orders, Production, Backlog, and Exports.
Quoting Steve Kline, "MBI showed that the metalworking industry contracted at its fastest rate since November 2012. Shops with more than 250 employees contracted for the first time since December 2012, and facilities with 50-99 employees contracted for just the second time in 2013. The smallest shops, those with fewer than 19 employees, saw their fastest rate of contraction since December 2011." What does this mean? It will be interesting to see numbers for October during the government shut down.
I apologize for the delay in missing the previous month blog on the MBI. Typically the metal working industry is future barometer for the metal finishing industry. Metalworking decrease eventually leads to slower business for the metal finishing industry.