An economic slowdown within the next 12 months is looking increasingly likely, according to economists.
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On a year-over-year basis, industry employment has risen by 266,000 jobs, an increase of 3.6%, according to Associated Builders and Contractors.
The average annual sales growth for the 12 months through September 2022 is 23.5% percent, HARDI announced.
Key sub-indexes of orders, production and employment each rose from Sepember, but were more than offset by declines elsewhere.
The construction industry had 422,000 job openings in September, according to an Associated Builders and Contractors’ analysis.
The quarterly Baird-MDM industrial distribution survey gauged distributors' confidence heading into 2023. Here's what they had to say about pricing expectations.
Prices climbed about 6.2% last month compared to a year earlier, the same rate as in August, according to the Commerce Department.
Mike Hockett breaks down the latest figures showing distributors' expectations for 2023 and beyond, as well as data that illustrates why distributors are still struggling with staffing despite a growing labor pool.
Mike Hockett analyzes the noticeably different levels of optimism in the commentary given by industrial distributors Fastenal and Motion in their third-quarter earnings calls.
The increase in shipping rates comes amid a slew of changes for UPS in 2023.
Tom Gale and Mike Marks look at unique and deeper factors the current market outlook is triggering for distributors — and the underlying longer-term positive trends where near-term opportunity may also exist.
Strong underlying industrial demand continued throughout the quarter, but a slowdown may be ahead. Read more in the 3Q 2022 MarketPulse report.
Trucks moved 10.93 billion tons of freight, up from 10.23 billion tons the previous year, according to the American Trucking Associations.
The increase in production was in part thanks to oil and autos bouncing back after a lackluster August.
It was a strong year-over-year growth month and sequential rebound from a month-to-month decline in July.
MDM’s team has been on the fall conference tour. Here, Tom Gale and IRCG’s Mike Marks compare notes from conversations at Affiliated Distributors, NetPlus and ISSA's recent summits, as well as MDM’s SHIFT event. They also cover the latest Baird-MDM quarterly MarketPulse survey, with most distributors reporting double-digit growth amid few signs of a slowdown.
Because of lingering inflation, the Fed may enact a fourth straight 0.75-percentage-point increase to interest rates in the coming weeks.
Construction input prices dipped 0.1% in September compared to the previous month but remained 41% ahead of February 2020 pre-COVID levels.
Backlog is once again above the level observed at the start of the pandemic, according to the Associated Builders and Contractors.
The increase snapped a streak of four consecutive months in which orders of manufacturing technology declined.
