The April ISA Economic Indicator Report from the Industrial Supply Association showed mixed results among manufacturers and distributors in March.
The ISA Manufacturer Index increased from 56.8 in February to 66.6 in March. Meanwhile, the Distributor Index decreased from 70.3 in February to 65.3 in March.
“Sales results for distributors and manufacturers were mixed this month,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “One factor influencing sales among ISA members is how much their businesses are dependent upon the oil and gas industry. As one member commented, ‘Activity is beginning to increase. Our mining and coal fired power business is dragging overall growth.’”
For each index, a reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.