September Wholesale Data: Major Downshift in Revenue Outlook

Judging by the latest wholesale trade data reported by the U.S. Census Bureau, it appears that the long-predicted industrial slowdown — which had continued to push further and further out — has finally arrived. While publicly-traded industrial, commercial and building supply distributors reported 2Q23 fiscal performance that was largely solid by historical measures, many of them noted signs of a slowdown in their investor/analyst calls between July and August, and the Bureau’s latest monthly Wholesale Trade Report certainly reflected that. As I’ve provided on a monthly basis throughout 2023…