Spending, however, was down on a monthly basis in seven of the 16 nonresidential subcategories, according to an ABC analysis.
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Members' sales growth for the 12 months through January 2023 was 18.1% percent, according to a HARDI news release.
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Driven by a sizable decrease in transportation equipment, it followed a strong 5.1% increase in December.
Year-to-year food prices abated to 11.6%, which is historically high but also the lowest annual increase since October 2021.
December 2022 cutting tool consumption totaled $188.4 million, according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology.
Over the past 12 months, the all-items index increased 6.4% before seasonal adjustment, according to the Bureau of Labor Statistics.
Despite the decline in January, backlog remains elevated by historical standards and is 0.1 months higher than in February 2020.
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Despite experiencing a decrease from total orders in 2021, the manufacturing technology industry still recorded its third-best year in 2022.
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After getting back on track in December, factory orders are up four of the last five months.
Construction job openings also increased by 82,000 in December, according to an Associated Builders and Contractors analysis.
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It was the index's ninth straight month of decline, and third straight in contraction territory.
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Overall, construction input prices are 7.9% higher than a year ago, while nonresidential construction input prices are 7.6% higher, ABC said.
The 12.2% sales growth was the slowest monthly increase since July 2021, said HARDI Market Research & Benchmarking Analyst Brian Loftus.
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.
