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GBI Provides Contractionary Reading in July

Gardner Intelligence’s review of the underlying data for the month observed that the Index – calculated as an average of its components – was supported by supplier deliveries and employment, which are often the slowest-responding components of the Index during a change in business activity.
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Gardner Business Index Contractionary Reading in July 2019
The Gardner Business Index (GBI) experienced its first contraction reading in over two years, registering 48.2 for July. The Index has fallen 13.9% from the same month one-year ago. Gardner Intelligence’s review of the underlying data for the month observed that the Index – calculated as an average of its components – was supported by supplier deliveries and employment, which are often the slowest-responding components of the Index during a change in business activity. In contrast, new orders and production, the most sensitive Index components, both registered contracting readings for July – an event which has not happened since mid-2016. These components joined exports and backlogs in contracting during the month. Read more

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