August orders remain virtually unchanged, following a substantial 9.9% increase in July.
Latest In Economic Trends
September's Consumer Confidence Index decreased to the lowest level since August 2021, reflecting consumer concerns about the labor market.
Some surveyed distributors remain cautious due to high interest rate, inflation, poor economy and a general slowing of business.
The Fed cut interest rates by 50 basis points, expressing confidence that rates are moving toward the 2% target.
August saw a rise in production, driven by gains in manufacturing and mining, while utilities held steady month-to-month.
Wholesale trade profits surged in 2Q sequentially but fell year-over-year
The monthly report adds more fuel to consensus expectations of a long-awaited federal interest rate cut on Sept. 18.
Month-to-month, the revenue outlook for 2024 improved modestly, while 2025’s had a healthy increase. See those figures plus an updated GDP forecast here.
Meanwhile, inventories continued to rise in July, reflecting a steady increase as sales showed a monthly and YoY rebound from June.
Driven by major gains in transportation equipment, July factory orders posted a strong rebound after decreases in June and May.
Despite an August uptick that ended four straight months of decline, the latest reading indicated U.S. manufacturing continues to see weak demand.
While up year-over-year, it declined monthly from a flat June.
The U.S. economy’s growth increased in 2Q, driven by consumer spending and private inventory investment.
Driven by transportation, July’s total increased substantially and marked a sharp rebound from June’s 6.7% decline.
The U.S. Federal Reserve Chairman gave his strongest indication yet that the central bank is poised to begin cutting its benchmark interest rate in September.
With demand softness lasting longer than any industrial distributor would prefer, we examine recent executive commentary and numerous economic indicators to make sense of business conditions.
The Census Bureau’s monthly new residential construction release highlighted a major decrease in housing starts year-over-year.
The Conference Board highlighted deterioration in new orders and weak consumer expectations as reasons for LEI decline in July.
Stabilizing inflation expectations and shifting election sentiments highlighted the latest University of Michigan U.S. consumer survey.
