It followed a sizeable jump in January, reflecting broad weakened industrial demand.
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Annually, however, January’s figure was up 11.7%.
Dragged down by building materials and supplies, it followed a 0.3% increase in December.
Driven by a sharp decline in commercial aircraft orders, it was the sharpest one-month drop since April 2020’s 19.3%.
After a strong start to 2023, shipments of cutting tools weakened in the last quarter of the year, falling 7.3% in December year-over-year.
With 2023’s final wholesale trade numbers accounted for, see how the sector fared compared to previous years, and our latest 2024-2025 revenue expecations by industry vertical.
Research from Colliers found that lease rates reached $9.72 per square foot last year despite supply far outpacing occupancy.
Producer prices rose at their fastest clip in five months, tampering hopes that inflation will cool to the Fed's 2% target anytime soon.
The Association for Manufacturing Technology said December’s figures outpoerformed “even the best of expectations.”
The year started with a slight deceleration in industrial production following a flat December.
Though it repeated December’s monthly figure, the overall CPI topped economics’ expectations.
A report from A3 shows that annual 2023 sales were near equal for automotive and non-automotive industries.
Distributors won’t be able to pass along price increases in 2024 at nearly the rate of 2021-2023. So, the 4Q23 Baird-MDM Survey asked distributors how they see supplier pricing impacting gross margin.
Wholesale reveneus likewise ended the year on a monthly uptick.
Using charts from our 4Q23 Baird-MDM Survey conducted in the first half of January, we illustrate what this year’s sales growth expectations are for distributors across five key customer end markets.
Find a wealth of data and analysis extracted from the 4Q23 Baird-MDM Industrial Distribution Survey, including trending charts and figures for revenue and expectations, plus plenty of interesting commentary.
January's figure still indicated contraction for a 14th consecutive month, but at a much slower pace than almost all of 2023.
The value of 2023 total construction was up 7.0% from 2022.
Fed Chair Jerome Powell suggested that a rate cut issued at his committee's March 19-20 meeting is unlikely.
Exports of industrial supplies saw a healthy rebound from a November decline.
