The December index dropped 2.6 points from the near-record November report.
Deal valued at $768 million combines two of distribution's largest companies.
Survey key to assessing where industry is heading in 2018.
Hoyt joins the company from Gexpro, a division of Rexel USA.
Rexnord expects to drive considerable revenue and cost synergies as the company is integrated.
Index records 5.2 percent gain over December 2016.
The company has promoted three members of senior management.
Goods and services deficit up 11.6 percent year-over-year.
The Measure now reads 63, up from 59 in the third quarter.
The company has made three leadership changes following the retirement of the vice president treasurer.
The purchase will enhance the company's position in the northeastern United States.
Purchase expands distributor's presence in the Pacific Northwest.
Both businesses will become part of the Mining and Rock Excavation Technique business area.
Construction spending up 0.8 percent from October.
PMI up 1.5 percent from November.
Purchase expands company's presence in New England.
Each new location will carry a full line of residential and commercial roofing products.