The 12.2% sales growth was the slowest monthly increase since July 2021, said HARDI Market Research & Benchmarking Analyst Brian Loftus.
Latest In Economic Trends
The U.S. hit its debt ceiling on Jan. 19. Here's what that could mean for the economy, and what NAW said it could mean for distributors.
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).
After reaching its highest total in three years in October, U.S. cutting tool consumption fell in November, but increased year-over-year.
The drop in factory orders followed three consecutive monthly increases.
Year-to-date orders for manufacturing technology orders dropped below 2021 for the first time in 2022, according to AMT's latest monthly report.
The cuts are nearly double the 10,000 layoffs Amazon said it was targeting in November.
The well-regarded barometer of U.S. manufacturing ended 2022 on a sour note, contracting for a second-straight month to its lowest mark since May 2020 when industries were dealing with factory shutdowns.
November's seasonally adjusted annual rate of $1.8075 trillion was 0.2% above the revised October rate.
It’s a significant drop that follows three consecutive monthly increases.
Cutting tool orders were up 11.7% year-over-year in October.
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).
Economic data released Dec. 15 show the Chinese economy struggled mightily during the final month of the country's zero-tolerance COVID-19 policy.
Economists had forecasted a 0.1% increase.
It follows three-straight .75-point increases.
Final demand prices had declined 0.4% in July and remained stagnant in August before slightly increasing in each of the past three months.
Orders totaled $457.7 million in October 2022, a 20% drop from the same month last year and down 12% from September.
Construction input prices fell 0.9% in November but remain 40% ahead of February 2020 pre-pandemic levels.
The seasonally adjusted annual rate of $1.795 trillion was 0.3% below the revised September estimate of $1.8 trillion.
The industrial manufacturing barometer fell another 1.2 points from October, continuing its year-long slide.
