The December reading of 44.8 of the metalworking business index (MBI) showed the metalworking industry contracted for the sixth month in a row.
On the positive side Future Business Expectations increased to a 61.9. A majority of metal workers are positive about the future which makes sense when we are hopefully bottoming out in a business cycle. Material prices 62.1 are increasing significantly while prices received are 49.5 decreasing for the fourth month in a row. Therefore, the end result are profit margins are down.
Steve Kline Jr. of MMS Online wrote the article on mmsonline.com. Steve also shared the indices of other industries including electronics, computers and telecommunications (57.8), medical (54.2), automotive (51.0), pump valves and plumbing products (50.6).