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The latest MDM-Baird Distribution Benchmarking Survey results are out, and they show that despite the economic dip at the end of the second quarter, respondents are looking forward.
On average they saw their sales increase 9.7 percent in the second quarter.
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And respondents – which included distributors and manufacturers across sectors – said they expect revenues will continue to go up in the third quarter by an average of 6.9 percent. For 2011, on average, sales are expected to grow 8.3 percent.
Respondents in the building products sector continue to see difficulty, with second quarter 2011 revenue growth below the survey average. Building products includes HVAC, roofing and pool & spa segments. Separately, building materials respondents saw just an average of 0.8 percent revenue growth in the second quarter.
Inventory trends were positive, as 44 percent of respondents increased inventory in the second quarter. (Just 39 percent in the first quarter survey had expected to increase inventories in the second quarter.)
The survey asked an additional question about economic conditions this time around, asking if respondents had seen a change in the tone of business over the course of the quarter (April to June). Overall, the tone of business remained strong, according to respondents, with a slightly higher percentage of respondents indicating that there had been "no change" or an improvement in the tone of business since the start of April.
That's good news, given the dip in economic progress at the end of the second quarter. As one respondent in industrial supply sector wrote: "We see concern and uncertainty, but very little pessimism."
A complete report on the second quarter results will be published in the July 25, 2011, issue of MDM Premium.
Thank you to everyone who participated in the latest survey!
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