MDM’s 1Q26 MarketPulse Report consists of the quarterly results, analysis and commentary from the latest Baird-MDM Industrial Distribution Survey — conducted early April — that explored revenue performance, pricing and business expectations for the current quarter and rest-of-year. It includes a wealth of market-specific data and commentary from survey respondents.
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PMA's latest business conditions report showed relatively flat movement for near-term outlook, with a modest decrease in monthly shipping levels offset by higher expected near-term orders.
The year is off to a strong start, with cutting tool orders up double digits from the start of 2025 supported by rising industrial activity.
Production slowed in most market groups. Declines were partially offset by growth in the output of construction supplies, defense, industrial and space equipment.
Core inflation posted a modest monthly gain, while final demand good prices saw their biggest one-month increase since August 2023.
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Hitting a new lowpoint in the index's 74-year history, it nderscores a sharp deterioration in household confidence entering 2Q.
Order value continues its considerable year-over-year and year-to-date improvement, whole volume remains flat.
It was the third straight flat month as a plunge in commercial aircraft orders was negated by healthy gains in computers and electronics, machinery, primary metals and fabricated metal products.
With consumers paying significantly more at the pump, the latest data gives the Fed little reason to enact an interest rate cut at the end of April.
It was a strong monthly acceleration as a handful of durable goods categories saw mid-single digit sales improvement. Meanwhile, the industry's overall sales growth outpaced inventories. Get a full breakdown of the latest government data here, which includes a look at how each product sector's sales and inventories fared month-over-month, year-over-year and year-to-date.
However, HARDI notes January and February are not good indicators of the year ahead because they are low-volume, seasonally insignificant months.
Pricing powered a third straight month in expansion territory. However, PMI survey commentary was overall negative, with numerous respondents citing Iran war impacts.
PMA's latest business conditions report showed a considerable downgrade in near-term optimism.
It was the fourth straight monthly decline for private nonresidential spending, which is now down 8% from its December 2023 all-time high.
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It was another monthly sales gain, though far less robust than in December.
The monthly topline producer price increase was more than double what economists forecasted.
Most Fed officials still expect at least one modest rate cut later this year.
U.S. industrial output edged up in February, cooling from the prior month's near-one-year high as utilities retreated and capacity utilization remained below its long-run average.