ISA members experience slower growth in February
The March ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that manufacturers and distributors exhibited slower growth in February compared to January but remain in expansion mode.
The ISA Distributor Index decreased to 63.0 in February compared to 67.2 in January. Meanwhile, the ISA Manufacturer Index decreased to 60.0 in February from 63.5 in January.
For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
"Growth continued among ISA members in February, but at a slower rate compared to the fast start out of the gates in January,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “Both Indices are well above rates experienced most of last year and comments from survey participants are overwhelmingly positive.”