The U.S. Census Bureau announced that the combined value of distributive trade sales and manufacturers’ shipments and inventories for July was down 1.2% from last year.
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According to the Industrial Production and Capacity Utilization Report, manufacturing output increased 1% during the month; industrial production was still 7.3% below its pre-pandemic February level.
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The seasonally adjusted Fastener Distributor Index (FDI) for August was 49.2, down from 54.6 in July.
The latest IRCG survey shows a nice bump in distributor revenues primarily to due to the five-day week of Aug. 31 to Sept. 4 comping against a four-day week in 2019 that included the Labor Day holiday.
Year-to-date, the goods and services deficit increased $6.4 billion, or 1.8%, from the same period in 2019.
Distributor sales notched their third-straight increase in the last full week of August, according to the latest Indian River Consulting Group PRI.
U.S. Census Bureau’s final report on new orders for manufactured goods shows a third consecutive month of growth and second consecutive month of mid-single-digit growth.
The August PMI registered 56%, an increase of 1.8% from the July reading of 54.2%— and the fourth consecutive month of expansion.
The July figure is 0.1% above the revised June estimate and 0.1% below the July 2019 figure; year to date, construction spending is up 4%.
The U.S. Census Bureau on Friday released advance indicators showing that the international trade deficit increased and that wholesale inventories dipped in July.
HARDI members also report Days Sales Outstanding (DSO) — a measure of how quickly customers pay their bills — hit a record low of 39 days during the month.
The decrease in real GDP reflected decreases in PCE, exports, nonresidential fixed investment, private inventory investment, residential fixed investment, and state and local government spending that were partly offset by an increase in federal government spending.
Increase of manufactured durable goods is third in a row following the double-digit growth in May and high-single-digit growth in June, which had been preceded by two decreases during the height of the coronavirus crisis.
Distributor sales continued to display strength in August beyond the normal month-ending uptick Indian River Consulting saw to close out July.
Latest data shows a 36.3% spike in home sales from the same month a year ago, giving distributors that sell building materials and other construction materials some much-needed good news.
