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Economic Trends

MDM Forecast: August Annual Outlook is Weakest of 2024

Month-to-month, all but two of the U.S. wholesale trade's 19 sectors saw further regression in our August forecast.

August 14, 2024

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Credit: Mike Hockett

The latest MDM Forecast saw considerable regression in August from a month earlier, which is unsurprising after numerous key economic indicators and publicly traded distributor commentary suggest continued soft demand conditions in most industrial product verticals. Our August forecast calls for 2024 U.S. wholesale trade revenues to increase 2.1% annually vs. 2023, down from the 2.8% in July’s edition and down 1.2 percentage points from June’s. The August update marked the weakest 2024 forecast so far this year.  To start the year, our January forecast called for 3.6% revenue growth in 2024…

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