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"US manufacturing and residential-related markets seem to be in a bottoming process while non-residential trends continue to deteriorate," said David Manthey, Baird's senior research analyst who leads the firm's Industrial Distribution sector research. "Survey results are consistent with our macro view that the US recovery will be slow and uneven."
Baird's Industrial Distribution Research Team collected feedback on third quarter results from approximately 250 independent and captive distributors with combined annual revenue of nearly $50 billion. Key survey findings include: