The Gardner Business Index (GBI) measures the current state of durable goods manufacturing activity through survey responses covering new orders, production, backlog, employment, exports and supplier deliveries. A reading above 50 indicates expansion; below 50 indicates contraction.

The Gardner Business Index posted a sixth consecutive month of expansion with a reading of 55.5 in June.
Source: GROW Industrial Intelligence

With a June reading of 55.5, the GBI slipped a fraction from May's 55.7 but held comfortably in expansion territory for a sixth consecutive month, extending a run that follows six straight months of contraction in the second half of 2025. The small pullback traces mainly to backlog and production, which each gave back more than a point, alongside a modest decline in new orders — signs that the sharp early-year acceleration is settling into a steadier cruising pace rather than reversing course. Working in the other direction, exports jumped two points (though still shy of the expansion threshold) and supplier deliveries lengthened further to 63.2, consistent with plants that remain busy enough to stretch lead times. The three-month average for estimated capital spending per plant over the next 12 months rose to roughly $500,000, up from nearly $470,000 the month before, while the share of facilities indicating planned capital purchases ticked up to about 72%. Optimism about the year ahead continues to build as well, with the Future Business Index, on a three-month average basis, climbing to 65.7.

The GBI Components Scorecard reports the monthly change rate of primary market factors contributing to the overall monthly index reading.

On a three-month average basis, all six core components sit above their year-ago levels, with employment and supplier deliveries also outpacing last month. Exports remains the sole component below 50.
Source: GROW Industrial Intelligence

Reading the Scorecard: Color indicates where a component value falls relative to 50 for the current month. Green indicates expansion; red indicates contraction.

Shade indicates a value's distance from 50; the darker the shade, the further from 50.

Direction indicates a value's change versus the previous period. Pointing up is always better.

GBI Spending Intentions reports the average estimated spending per plant over the next 12 months and the percent of facilities indicating they do not plan to make capital purchases. Both are reported as a three-month moving average.

The three-month average for average spend per plant climbed to roughly $500,000, as the share of plants planning no capital purchases edged down to about 28%.
Source: GROW Industrial Intelligence

The GBI Future Business Index is an indicator of the future state of the metalworking market from industry respondents regarding their opinion of future business conditions for the next 12 months. Over 50 is expansion and under 50 is contraction.

The three-month average for the Future Business Index rose to 65.7 in June, its highest mark since early in the year.
Source: GROW Industrial Intelligence