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Economic Trends

Census Bureau Revisions Lead to Rosier 2024 MDM Forecast

The U.S. Census Bureau's annual March revisions to wholesale trade revenues considerably lifted its largest sector - oil & gas - which likewise raised the latest MDM forecast modeling.

By Mike Hockett

April 12, 2024

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The U.S. Census Bureau annually issues historical revisions to its monthly wholesale trade report each March, which can result in considerable changes to the data we use to create the monthly MDM Wholesale Trade Forecast. Such was the case in the Bureau's latest data that accounts for wholesale trade revenues through February. Its estimated revenue for oil & gas products distributors — the largest of the 19 wholesale trade sectors the Bureau tracks — was significantly revised upward, in turn raising the overall MDM Distribution forecast for 2024 substantially. MDM's forecast model uses the…

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