It followed a sizeable jump in January, reflecting broad weakened industrial demand.
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Annually, however, January’s figure was up 11.7%.
Dragged down by building materials and supplies, it followed a 0.3% increase in December.
Driven by a sharp decline in commercial aircraft orders, it was the sharpest one-month drop since April 2020’s 19.3%.
After a strong start to 2023, shipments of cutting tools weakened in the last quarter of the year, falling 7.3% in December year-over-year.
With 2023's final wholesale trade numbers accounted for, see how the sector fared compared to previous years, and our latest 2024-2025 revenue expecations by industry vertical.
Research from Colliers found that lease rates reached $9.72 per square foot last year despite supply far outpacing occupancy.
Producer prices rose at their fastest clip in five months, tampering hopes that inflation will cool to the Fed's 2% target anytime soon.
The Association for Manufacturing Technology said December’s figures outpoerformed “even the best of expectations.”
The year started with a slight deceleration in industrial production following a flat December.
Though it repeated December’s monthly figure, the overall CPI topped economics’ expectations.
A report from A3 shows that annual 2023 sales were near equal for automotive and non-automotive industries.
Wholesale reveneus likewise ended the year on a monthly uptick.
January's figure still indicated contraction for a 14th consecutive month, but at a much slower pace than almost all of 2023.
The value of 2023 total construction was up 7.0% from 2022.
Fed Chair Jerome Powell suggested that a rate cut issued at his committee's March 19-20 meeting is unlikely.
Exports of industrial supplies saw a healthy rebound from a November decline.
Following their biggest gain in 28 months during November, orders were virtually unchanged in December.
While the figure decelerated from 3Q23’s robust 4.9% growth, it easily topped forecasts and suggested continued economic resilience.
AMT said aerospace and automotive markets are still working on an impressive backlog and sales that will keep shops busy well into 2024.