Automotive powered much of the gain, which was a strong rebound after declines in June and May.
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June's total ticked up 0.3% from May and was up 2.2% year-over-year.
Year-to-date orders ended June up 13%, however, and officials expect the market to receive an annual boost from the September IMTS show.
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Questions about economic concerns, distribution inventory management and the future of hybrid work were among topics covered in MDM's July 2022 Premium Monthly, now available for download.
Downward pressure on nonresidential spending is likely to only intensify, and the situation looks even worse when adjusting for inflation.
Heating, Air-conditioning & Refrigeration Distributors International released its monthly TRENDS report reflecting the month of June.
It was the slowest expansion since June 2020 as prices took a major month-to-month decline while employment posted improvement.
The independent distributor organization says total member sales in the first six months of 2022 were $36.1 billion.
The U.S. Census Bureau announced data for international trade, wholesale inventories and retail inventories advance for June 2022.
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For the first time since summer 2020, both single-family starts and permits fell below a 1 million annual pace, NAHB says.
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Our latest podcast focuses on maintaining perspective and paying attention to actions and tangible data amid all the broad economic downturn talk.
The Producer Price Index for final demand increased 1.1% in June compared to the prior month, the Bureau of Labor Statistics reported.
May orders were down 14% from April 2022 but nearly equal to May 2021 orders with a modest 1% decline.
The deficit was $85.5 billion in May, down $1.1 billion from $86.7 billion in April, the Census Bureau and Bureau of Economic Analysis said.
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