Meanwhile, three-fourths of survey commentary was negative, with more than half of comments citing pricing volatility as an issue and plenty of others mentioning the Iran war.
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Wholesale inventories continued to climb in April after sharp gains in February and March, though the latest advance came in below market expectations — a possible sign that recent stockloading is cooling.
U.S. housing starts declined in April as single-family construction slowed, while building permits rebounded month-over-month amid continued volatility in residential construction activity.
Order value jumped both monthly and year-over-year, helped by inflation and buyers looking to get inventory ahead of further price increases.
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Durables production increased 1.2% in April month-over-month, with gains in most categories.
Core inflation likewise jumped, while a major increase in the index for final demand services was driven by widened margins for machinery and equipment wholesalers.
Surging energy prices continue to skew top-line CPI results, while core inflation was above market expectations. Get the key numbers and charts here.
While inflation is a major tailwind, a sustained increase in average order value above inflation continues to point to increased demand.
Frontloading on petroleum products ahead of price shocks tied to the Iran war skewed the industry's overall figures, but here, view product vertical-specific figures for monthly and year-over-year sales, inventories and inventory/sales ratios pulled from the Census Bureau's latest wholesale trade report.
Solid housing construction spend more than offset a second straight nonres decline. Get the full numbers and growth/decline changes here.
Same-day sales were up mid-single digits vs. February alongside a solid year-over-year gain.
ISM shared that 19% of the manufacturing sector’s GDP contracted in April, compared to 16% in March.
Government spending and private investment increased sequentially, and AI-related spending helped drive strong growth in business investment in equipment and structures.
It suggests solid growth for homebuilding throughout 1Q26 and into April.
The Fed held rates steady again on April 29, maintaining a wait-and-see stance on inflation. The decision likely marks Jerome Powell’s final FOMC meeting as chair, extending a prolonged pause with implications for distributor demand and investment.
This comprehensive MDM 2Q26 Forecast Report is a guide to the U.S. wholesale distribution economy, providing a historical, current and future snapshot of numerous key economic indicators in one convenient place along with our exclusive sector-specific forecasts for 19 different product categories.
MDM’s 1Q26 MarketPulse Report consists of the quarterly results, analysis and commentary from the latest Baird-MDM Industrial Distribution Survey — conducted early April — that explored revenue performance, pricing and business expectations for the current quarter and rest-of-year. It includes a wealth of market-specific data and commentary from survey respondents.
PMA's latest business conditions report showed relatively flat movement for near-term outlook, with a modest decrease in monthly shipping levels offset by higher expected near-term orders.
The year is off to a strong start, with cutting tool orders up double digits from the start of 2025 supported by rising industrial activity.
