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Quarterly MDM-Baird Distribution Survey

Research: Distributors & Manufacturers Split on Signs of Pullback, CapEx Plans

Respondents in the 1Q25 Baird-MDM Industrial Distribution Survey were divided on 2025 demand and investment outlooks, as tariff uncertainty clouds confidence and prompts cautious strategic planning. See our full breakdown of the results.

April 23, 2025

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With macroeconomic uncertainty the name of the game across wholesale distribution so far in 2025, Baird and MDM sought to poll an audience of distributors and manufacturers about how tariffs are impacting their outlook for product demand for the rest of 2025, as well as their plans for capital investment and growth plans. To do so, we included a quartet of tariffs-focused questions in the 1Q25 Baird-MDM Industrial Distribution Survey, which was conducted during the first week of April and polled hundreds of respondents across all demographics and product lines in industrial, commercial and…

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