April orders declined 16.5% from March.
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The unemployment remained at 3.6% during the month.
Year-to-date, the goods and services deficit increased 2% from the same period in 2018.
The May PMI registered 52.1%, a decrease of 0.7% from the April reading.
Annualized growth through April was 12.6%.
Real gross domestic income increased 1.4% in the first quarter.
The Index now stands at 134.1, up from 129.2 in April.
The CFNAI Diffusion Index decreased to 0.22 during the month.
Seven of the eight major components were up year over year in April.
The first three months of 2019 saw total orders at $1.13 billion, a 9.5% decline over the same timeframe in 2018.
Year-to-date, the goods and services deficit decreased 3.7% from the same period in 2018.
Nonfarm business sector labor productivity increased 3.6%.
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According to the survey, employers are facing pressure because of the low unemployment rate.
In the fourth quarter of 2018, real GDP increased 2.2%.
Since 2010, Robert W. Baird & Co., in partnership with Modern Distribution Management, has conducted quarterly surveys of distributors and manufacturers to gauge business trends and the outlook for the industry. This quarter’s survey polled approximately 500 industry leaders to determine the latest indicators on revenue and pricing based on first-quarter 2019 results and distributor and manufacturer expectations for second-quarter and full-year 2019.
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Not surprisingly, our quarterly Baird cover story confirms both leading indicators as well as what were hearing anecdotally from distribution executives. The first quarter showed signs of weakness compared to the previous quarter for most distributors, but still good growth overall, and a continued optimistic outlook.
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The CFNAI Diffusion Index decreased to 0.18 in March.
