Winona, Minnesota-based industrial and construction supplies distributor Fastenal again saw slowed sales growth during the month of October, according to its monthly financials report.

Daily sales growth was 1.9%, a slowdown compared with 5.0% growth in September and 3.6% in August, and significantly down from 13.6% during October 2022. Daily sales for October 2023 were $29.3 million (over 22 business days), while net sales for the month were $644.6 million.

Fastenal ended the month with 14,845 personnel, a 2.9% increase over the same period a year ago.

Other notes from Fastenal’s October 2023 sales report (figures compared to October 2022):

By geography:

• Daily sales in the U.S. grew 1% year-over-year, compared with 14.1% in October 2022.
• Daily sales in Canada & Mexico grew 8.2%, compared with 15.2% a year ago.
• Daily sales to the rest of the world increased 0.4%, compared with a 5.7% decrease in October 2022.

By end market:

• Daily sales to manufacturing customers grew 5.6%, compared with 21.9% a year ago.
• Daily sales to nonresidential construction customers decreased 8.8%.

By product line:

• Daily sales of fasteners decreased 2.6%, compared to 12.2% growth a year ago.
• Daily sales of safety products grew 6.4%.
• Daily sales of all other products grew 3.3%.

By customer/channel type:

• Daily sales to national accounts grew 6.0% year-over-year.
• Daily sales to non-national accounts decreased 4.0%.
• 52.0% of Fastenal’s national accounts grew sales year-over-year.
• 50.9% of Fastenal’s in-market locations growing.