I apologize for not sharing the MBI results lately, but June's numbers reported by Steven R. Kline Jr. from MMS Online at mmsonline.com really caught my attention.
The Metal Business Index (MBI) was at 45.8 the lowest reading since December 2012 and it has contracted 11 out of the last 12 months.
Steven discussed that shops with less than 50 people contracted the fastest, while shops greater than 250 were expanding. The group in the middle 50-249 were contracting slower than the smallest metal working shops. New orders contracted for the third consecutive month, production contracted for the first time in 2013 including backlogs. Analyzing all the data Steven states, "that there is some excess capacity in the metal working industry."
Interesting that I am hearing from my banker and insurance suppliers that there is no real growth out there, they are aggressively targeting other people's business. What are you seeing out there? We are fortunate that we are having an up year in 2013 growing overseas business while many domestic customers are down significantly. Thank you for your business as we move forward . Onward and upward!