According to the latest ISA Economic Indicators Report (EIR) from the Industrial Supply Association, activity among its manufacturer and distributor members dipped slightly compared to last month but remains in positive territory.
The report showed manufacturer activity in March at 61.82% compared to 63.99% the previous month and the distributor index at 62.86% compared to 64.83% in February. For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
“All levels of the industrial supply industry continued to expand in March. During the same time frame, ISM's Purchasing Managers Index, which is a snapshot of customers of industrial supply companies, was at 53.4%,” said John Buckley, ISA executive vice president. “It is gratifying to see all channel members continuing to do well. However, while the channel continues to expand, we are seeing a few signs of slower growth. The Manufacturer Index for New Orders is showing a bit of contraction at 46.6%. The Overall Business Activity Index was just about flat at 51.1%.”
For the complete report, click here.