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.
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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.
Analysts from Jefferies cited increased branch foot traffic at a handful of major industrial distributors that correlates with demand optimism voiced in 1Q26 earnings calls.
Production slowed in most market groups. Declines were partially offset by growth in the output of construction supplies, defense, industrial and space equipment.
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Core inflation posted a modest monthly gain, while final demand good prices saw their biggest one-month increase since August 2023.
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Hitting a new lowpoint in the index's 74-year history, it nderscores a sharp deterioration in household confidence entering 2Q.
Order value continues its considerable year-over-year and year-to-date improvement, whole volume remains flat.
Pricing is still playing a large — albeit decelerated role — in the company’s strong results, while management was upbeat on underlying demand. Get our in-depth breakdown of Fastenal’s 1Q metrics.
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It was the third straight flat month as a plunge in commercial aircraft orders was negated by healthy gains in computers and electronics, machinery, primary metals and fabricated metal products.
With consumers paying significantly more at the pump, the latest data gives the Fed little reason to enact an interest rate cut at the end of April.
It was a strong monthly acceleration as a handful of durable goods categories saw mid-single digit sales improvement. Meanwhile, the industry's overall sales growth outpaced inventories. Get a full breakdown of the latest government data here, which includes a look at how each product sector's sales and inventories fared month-over-month, year-over-year and year-to-date.
However, HARDI notes January and February are not good indicators of the year ahead because they are low-volume, seasonally insignificant months.
Pricing powered a third straight month in expansion territory. However, PMI survey commentary was overall negative, with numerous respondents citing Iran war impacts.
PMA's latest business conditions report showed a considerable downgrade in near-term optimism.
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It was the fourth straight monthly decline for private nonresidential spending, which is now down 8% from its December 2023 all-time high.
