Subscribe Log in

Economic Trends

MDM March Forecast: Oil & Gas Drives Weakened 2024 Outlook

While oil & gas led the March downward revision for 2024, 10 of 19 total industry verticals likewise trended more pessimistic.

March 15, 2024

Share

The latest monthly MDM Forecast for 2024 wholesale distribution revenues was revised considerably downward in March, as the oil and gas sector drove a more pessimistic outlook that saw just over half of all industry verticals regress on that front, following a flat February. Our 2024 full-year forecast now projects sector revenues to finish at +2.8% vs. 2023 — down 0.8 percentage points from a month earlier. The largest wholesale vertical — oil and gas products — drove much of the decline, plummeting from a 6.7% increase outlook in February to a -0.8% decline in March. Excluding oil and gas…

This is a Premium Article

Join NAW to read the full article — plus access to research, data, and intelligence.

As a member, you get:

  • Unlimited premium MDM articles, case studies, and monthly intelligence reports
  • Access to webcasts, podcasts
  • Exclusive whitepapers, research reports, and market data
  • Quarterly M&A, MarketPulse, and Economic Outlook reports
  • Access to NAW Nucleus, NAW SmartBrief, and NAW’s policy and leadership resources

The NAW Professional Membership is $850/year for individuals. It’s the fastest way to unlock this article — and everything else.

Unlock Premium Content


>> Explore all membership options

Related Articles

See More Articles