The latest Census Bureau figures indicate January was a weakened month for sales, both month-to-month and year-over-year.
Latest In Economic Trends
The figure was boosted by an additional billing day, but the month was still a considerable rebound when excluding that factor.
It was the third decline in the past four months, and much sharper than December’s.
It followed a sizeable jump in January, reflecting broad weakened industrial demand.
Annually, however, January’s figure was up 11.7%.
Dragged down by building materials and supplies, it followed a 0.3% increase in December.
Driven by a sharp decline in commercial aircraft orders, it was the sharpest one-month drop since April 2020’s 19.3%.
After a strong start to 2023, shipments of cutting tools weakened in the last quarter of the year, falling 7.3% in December year-over-year.
This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
Research from Colliers found that lease rates reached $9.72 per square foot last year despite supply far outpacing occupancy.
Producer prices rose at their fastest clip in five months, tampering hopes that inflation will cool to the Fed's 2% target anytime soon.
The Association for Manufacturing Technology said December’s figures outpoerformed “even the best of expectations.”
The year started with a slight deceleration in industrial production following a flat December.
Though it repeated December’s monthly figure, the overall CPI topped economics’ expectations.
A report from A3 shows that annual 2023 sales were near equal for automotive and non-automotive industries.
Wholesale reveneus likewise ended the year on a monthly uptick.
January's figure still indicated contraction for a 14th consecutive month, but at a much slower pace than almost all of 2023.
The value of 2023 total construction was up 7.0% from 2022.
Fed Chair Jerome Powell suggested that a rate cut issued at his committee's March 19-20 meeting is unlikely.
Exports of industrial supplies saw a healthy rebound from a November decline.
