The seasonally adjusted Fastener Distributor Index (FDI) for November was 54.5, down from 56.5 in October but still in the growth range, according to the latest analysis from Baird, FCH Sourcing Network and the Institute for Supply Management.

The Forward-Looking Indicator (FLI) also dipped, to 63.2 from 64.5. According to the report, the FLI “retreated moderately but still remains well above 50, seemingly boding well for future demand conditions.”