Cutting tool consumption totaled $189.6 million, according to the U.S. Cutting Tool Institute and Association For Manufacturing Technology.
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Machinery, up four of the last five months, led the increase at $0.2 billion or 0.5% to $37.8 billion.
Projections showed the central bank would raise rates to a median 5.6% by the end of the year — up from the current range of 5.25% to 5.5%.
Following July's considerable 1.0% monthly gain, August was held by somewhat by a drop in automotive output.
Mike Hockett examines the latest economic trending data as it pertains to wholesale distributors, including their revenue expectations through next year.
Nonresidential construction input prices also increased 1.5% for the month, but are up just 0.2% from a year ago, according to ABC.
The August advance is the largest increase in final demand prices since moving up 0.9% in June 2022.
A tight labor market, unbalanced federal regulations, and critical policy debates continue to confront the sector, according to a new study.
August’s 0.6% month-to-month accelerated from a 0.2% increase the previous two months, according to the latest data.
New orders of manufacturing tech totaled $353.9 million in July 2023, according to the latest U.S. Manufacturing Technology Orders Report.
Total inventories of merchant wholesalers were $902.3 billion at the end of July, down 0.2% from the prior month.
The annual sales growth for the 12 months through July 2023 is 6.2% percent, according to a HARDI news release.
New orders for manufactured goods in July decreased month over month to $12.7 billion, a 2.1% decline from June.
Construction spending during July 2023 was estimated at a seasonally adjusted annual rate of $1.97 trillion.
While in contraction territory for a 10th straight month, a handful of key subindexes trended positive vs. July.
The increase in real GDP reflected increases in consumer spending, nonresidential fixed investment, and state and local government spending.
New orders for manufactured durable goods in July were down following four consecutive monthly increases, according to U.S. Census Bureau data.
Association data shows metalformers anticipate a modest improvement in incoming orders, while shipping levels declined further in August.
Manufacturing output rose 0.5% in July, but the growth rates for the previous three months were revised down.
The U.S. Cutting Tool Institute has optimism that tool sales for the remainder of the year will be positive as hiring pressures ease
