July’s Fastener Distributor Index FDI for the U.S. signaled contraction 45.1, vs. 51.6 in June. Building on a June that reflected slowing 51.6, from 56.3 in May, July’s FDI fell to 45.1.”Being below 50 suggests more fastener distributors are experiencing worse-than-expected conditions that point to conditions that are or may soon be contracting.”Sales were the highlighter, reflecting far worse than expected performance with a reading of 38.2, down from 42.2 in June. “For the first month since the series started Employment was not up 50.0 in July.” (…)
via FDI: July Signals Contraction for Fastener Distributors.