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Economic Trends

MDM January Forecast: 2024 Revenue Expectations Slip After Softer 2023

Our latest forecast called for downward revisions, snapping a three-month streak of optimistic revenue trends.

January 16, 2024

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The latest monthly MDM Forecast for wholesale distribution revenues was revised down slightly through November for both 2023 and 2024 full-year revenues, snapping several months of positive trends. Wholesale trade data from the U.S. Census Bureau released Jan. 10 showed that sector revenues were flat in November month-over-month and up 0.5% year-over-year. Year-to-date, wholesale trade revenues were down 1.6% through the first 11 months of 2023 compared to the same period in 2022. Those figures led to an overall dip in MDM’s 2023 full-year revenue forecast, which now projects revenues to…

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