While the metalworking industry continues to grow, it is expanding at its slowest rate since 2017 according to the latest Gardner Business Index report.
According to the report, metalworking posted a 51.6 market growth score, its lowest since lowest since 2017. While growth is slowing, the report indicates the industry is still trending up. A score above 50 indicates growth, while a score below 50 would mean the industry is shrinking.
The report shows a reduction of both backlogs and new orders.