|
|
| |
|
|
U.S. Fastener Distributor Index Growth Slows in September-The 18th China(Guangzhou)Int¡¯l Fastener & Equipment Exhibition
10/10/2016 fastener expo |
--------------------------------------------------------------------------------------------------------------- |
|
The Fastener Distributor Index FDI for September ¡°remained in growth territory¡± at 51.1, although results were lower than August¡¯s reading of 53.1.
¡°Despite implications for modest ongoing growth, September sales proved mixed, with just 53% of respondents noting flat or stronger selling conditions versus the preceding month,¡± wrote independent analyst Charles Redding.
For September, 53% of respondents cited unchanged/ stronger sales versus the August period (68% last month).
Regarding customer inventories, 22% of participants viewed current levels as "too high."
¡°Conditions remain choppy for many fastener distributors, in our view, as intense sales and pricing pressure continues.¡±
September¡¯s ¡°notably tepid employment sentiment¡± could suggest a slowdown in hiring among manufacturers,¡± Redding added.
For September, 91% of participants cited unchanged (or weaker) hiring conditions versus the prior month (79% in June).
¡°Not surprisingly, last month¡¯s US jobs report came in weaker than expected (+151K adds vs. +180K consensus), reflecting mixed hiring conditions for many domestic manufacturers (US BLS).¡±
Last quarter, Fastenal reiterated its hiring freeze, excluding necessary vending/IT administration adds.
Overall survey commentary continues to imply ¡°notable divergence¡± among select fastener distributors,¡± according to the FDI.
¡°After a strong first half, Q3 activity level has fallen significantly¡we anticipate more of the same in Q4,¡± one respondent noted.
Another indicated that ¡°Q3¡¯16 was our weakest quarter in three years.¡±
The FDI is a monthly survey of North American fastener distributors, conducted with the FCH Sourcing Network and the National Fastener Distributors Association.
-The 18th China(Guangzhou)Int¡¯l Fastener
& Equipment Exhibition
|
|
|
|
|
