The February ISA Economic Indicator Report from the Industrial Supply Association indicated that growth slowed in January for both Manufacturers and Distributors.

"The ISA Manufacturer Index decreased from 61.3 in December to 58.9 in January, while the ISA Distributor Index fell from 66.6 in December to 57.8," said Bryon Shafer, general manager of ASG Industrial and chairman of ISA’s strategic information committee.

For each index, a reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction. The indexes have been above 50 percent since December 2012.

“While both Indexes decreased for the month, comments from members reflect an overall positive attitude about business conditions,” Shafer said. “While lower than the previous month, the Anticipated Business Conditions Index and the Anticipated New Orders Index remain in positive territory, which suggests continued confidence in the economy among distributors and manufacturers.”