Orders surpassed $650 million during the month, according to the latest U.S. Manufacturing Technology Orders Report.
The pandemic and subsequent economic swings have created intense competition for talent, and the labor market is going to get even tighter.
The seasonally adjusted Fastener Distributor Index of 56.2, was driven primarily by a lower employment index.
The industry added 22,000 net jobs in December, and the industry has recovered slightly more than 1 million of the jobs lost in 2020.
The deficit was $80.2 billion in November, up $13 billion from a revised $67.2 billion in October, according to the latest report.
To adapt and stand out during market consolidation, expect more distributors to find niches and develop specializations.
Economic activity in the manufacturing sector grew in December, though the PMI dropped 2.4 points from November.
November 2021 construction spending was estimated at $1,625.9 billion, a 0.4% increase over the revised October estimate.
The international trade deficit was $97.8 billion in November, while exports were down $3.3 billion, according to a Census Bureau report.
Led by slower growth in production-related indicators, the Chicago Fed National Activity Index decreased to +0.37.
The Consumer Price Index has seen its largest 12-month increase in nearly four decades, according to recently released federal data.
Whether ready to sell or not, distribution executives in forward-thinking companies can effectively harness innovations while aligning their organization to increase the value of the company.
