The Industrial Supply Association’s July Economic Indicator Report indicates that growth picked up for distributors and manufacturers as summer began.
The ISA Distributor Index increased from 56.6 in May to 65.7 in June, while the Manufacturer Index rose from 50.7 in May to 62.7.
“Business was strong as we began the summer months, following two months of slower growth,” said Bryon Shafer, general manager of ASG Industrial and chairman of ISA’s Strategic Information Committee. “The New Orders Index was up for both distributors and manufacturers, and the Anticipated New Orders Indexes are also strong, which should translate into continued strong sales throughout the summer.”
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.