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Index improved in January to 111.8, from 113.3 in December.
Raw materials price index increased 6.5 percent.
Company's fourth-quarter sales flat year-over-year at $8 billion.
In the fourth quarter, real GDP grew at an annual rate of 1.9 percent.
Growth suggests the U.S. economy will continue to grow at a moderate pace.
The index's three-month moving average, CFNAI-MA3, increased during the month.
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Stop ignoring the sales gorilla in the room.
Despite 2016 ending on sour note, distributors hopeful for turnaround this year.
Higher sales in four subsectors partially offset by lower sales in two subsectors.
Acquisition to help company "strengthen network in the USA."
Privately owned housing starts up 4.9 percent for 2016.
Investment in all types of dwellings led the increase.
Company completes fourth acquisition in past 18 months.
Capacity utilization increased 0.6 percent to 75.5 percent.
