U.S. construction spending edged higher in May, helpeThe monthly dip came as non-data center commercial activity fell, while nonresidential activity improved.d by continued public sector gains and residential improvement. Private nonresidential spending, however, declined for an eighth straight month. Get all the key data and charts here.
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The economic indicator expanded faster than market expectations on the strength of a considerable month-to-month production increase alongside employment.
The headline figure came in below expectations as rising imports and weaker government spending weighed on growth, but a sharp acceleration in private domestic demand offered a considerably stronger underlying signal.
The Federal Reserve maintained its benchmark interest rate again, extending a pause that began in December. Three regional Fed presidents dissented in favor of raising rates as policymakers continued to emphasize elevated inflation.
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U.S. durable goods orders increased 0.3% in June, led by computers and electronic products, while orders excluding transportation rose 0.6%. Total orders were up 8.9% year over year and 6.7% through the first half of 2026.
Drewry’s latest World Container Index showed a second consecutive weekly decline, but U.S.-bound shipping rates remain far above early-2026 levels amid tariff-driven frontloading, constrained capacity, elevated fuel costs and continued geopolitical uncertainty.
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Manufacturing output was flat month-over-month, while mining and utilities both had modest increases. Get all the key figures here.
U.S. housing starts bounced back in June after a sharp May decline, driven by a jump in multifamily construction. Building permits declined both month-to-month and year-over-year, while completions increased.
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The latest Producer Price Index showed wholesale prices fell in June as energy costs retreated sharply, while underlying inflation remained more subdued, offering a calmer inflation picture after May's energy-driven surge.
Consumer inflation eased considerably during June as gasoline prices reversed course, while core prices were unchanged month-over-month and posted their smallest annual increase since early 2021.
Month-over-month orders declined for a second straight month, but to a much smaller degree than April, while year-over-year totals remain robust. Get the key figures and context here.
The number of units shipped decreased for a second straight month after rising in March and February.
Petroleum products continued to lift nondurable goods sales, while durables saw widespread acceleration as inventory-to-sales ratios continue to slide, indicating demand is outpacing stockpiles. Here, get a full breakdown of product vertical-specific figures for monthly and year-over-year sales and inventories from the latest government data.
The IMF’s July World Economic Outlook update projects 3.0% global growth in 2026, down 0.1 percentage point from April, as war-driven energy pressure and stalled disinflation offset technology investment gains.
It followed a 4.5% April increase, marking a downtrodden start to the first meaningful month of cooling season.
U.S. construction spending edged higher in May, helped by continued public sector gains and residential improvement. Private nonresidential spending, however, declined for an eighth straight month. Get all the key data and charts here.
The economic indicator was expected to hold or modestly tick down, as indices for new orders and production both declined month-over-month.