Growth Rate Inches Higher
With a reading of 53.1, the December MBI showed that the metalworking industry grew slightly faster compared to November, marking the 29th consecutive month of industry growth.
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Material prices continued to grow faster than the prices received by the metalworking industry. In fact, material prices have grown faster (or contracted more slowly) since the MBI began in December 2006. This indicates that material cost accounts for an ever increasing portion of revenue at metalworking facilities. Finally, future business expectations have improved the last two months, breaking the downward trend that began last summer.
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