The seasonally adjusted Fastener Distributor Index (FDI) for June was 55.8, down from 61.8 in March due to global supply chain issues.
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During the first five months, construction spending totaled $594.8 billion, which is 4.6% above the same period in 2020, according to the U.S. Census Bureau.
The increase in real GDP in 1Q reflected increases in personal consumption expenditures (PCE), nonresidential fixed investment, federal government spending, residential fixed investment, and state and local government spending.
The latest Chicago Fed National Activity Index (CFNAI) found that three of the four broad categories of indicators used to construct the index chipped-in positive contributions in May.
The U.S. Census Bureau reported the combined value of distributive trade sales and manufacturers’ shipments and inventories for April increased by 40% from the same month in 2020.
While the recovery well is underway, the NetPlus quarterly survey also said the labor shortage was a cause for concern going forward.
Technology orders were up 72% year-over-year in April according to the latest U.S. Manufacturing Technology Orders report by AMT.
Association also found that the average annual sales growth for the 12 months through April for HARDI distributors was 13.7%.