Year-to-date construction spending through the first half of the year was up 3.0% vs. 2022.
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For a second straight month, none of the PMI's 10 subindexes registered monthly expansion.
The official manufacturing purchasing managers’ index (PMI) was 49.3 in July, data from the National Bureau of Statistics showed.
After years of financial trouble and recent labor disrupts, North America’s third largest truck carrier is filing for bankruptcy.
The Conference Board Consumer Confidence Index rose again in July to 117.0, up from 110.1 in June and to the highest level since July 2021.Â
It was the fourth consecutive monthly increase, and more than twice the increase of May.
Amid cooling inflation, that figure is an acceleration from 1Q's 2.0% growth.
The increase follows a one-month pause in June and despite recent sharp declines in wholesale and consumer inflation rates.
Inconsistent, sluggish revenue numbers dogged some distributors during the second quarter, according to the latest Baird-MDM survey.
The decline reflected a broad industrial deceleration, led by a contraction in consumer durable goods.
MDM's annual Mid-Year Economic Forecast webcast provided a current snapshot of market conditions and what to expect in a likely bumpy road ahead.
The strong growth figures suggest that metal-cutting production has not been drastically affected yet by an industrial slowdown.
Compared with 2022, TEU volume was down 16.1% in June, but up 6.0% from pre-pandemic June 2019, according to Descartes.
Economists polled by the Wall Street Journal had predicted a 0.2% increase in the producer price index, MarketWatch said.
The core June inflation index was up 4.8%, down from May’s 5.3%, and was a bigger decrease than expected.
The South remains the region with the highest backlog, despite being the only region in which backlog declined in June.
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May 2023 sales of merchant wholesalers were $650.2 billion, according to data released by the U.S. Census Bureau.
May orders increased 8.6% over April 2023 but fell short of May 2022 orders, according to The Association For Manufacturing Technology.
Nonresidential construction employment rose by 12,200 positions on net, with positive growth in 2 of the 3 subcategories.
