Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of April 20-24, 2020, indicated a 14.8% decline compared with the same week a year ago.
IRCG’s distributor Pandemic Revenue Index gives distributors a weekly quantified view into how other distributors in the industry are faring with respect to revenue declines as the global COVID-19 pandemic progresses.
So far, all but one participant in the Pandemic Revenue Index has realized an aggregate sales decline over the past five weeks with an average decline of 22.4%. A big project order that shipped last week is responsible for the sales growth of the one company not showing an overall decline.
“Based on what we’ve seen from participants in the PRI and heard in other conversations, industrial markets seem to be holding their own, but outside of that markets are very soft,” said Mike Emerson, IRCG Partner. “It will be interesting to see what happens as businesses start to slowly reopen in several states over the next few weeks.”