The February Fastener Distributor Index “recovered nicely,” rebounding to 56.0 following a seasonal-adjustment-driven downtick in January (52.7), according to the latest analysis from Baird, FCH Sourcing Network and the Institute for Supply Management.
The recovery was “broadly consistent” with recovery seen in the ISM PMI and other macroeconomic data points as COVID-related disruption eased, according to the analysis.
Comments from respondents suggests a continued supply and labor constrained market. The ForwardLooking Indicator (FLI) retreated to 55.6 as incoming order growth slowed for some.
“Overall, we believe fastener market conditions were strong in February as demand remains robust, although fulfilling demand remains challenging,” one respondent said.