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This week's Economic Report and the latest Global Manufacturing Update, provided by the National Association of Manufacturers are available below:
A recent survey of “right fit” 16-24 year olds found a 6.7 percent increase in their awareness of industrial distribution as a career field, compared to a similar survey commissioned three years ago by Industrial Careers Pathway® (ICP). The November 2016 survey targeted young people who are not planning on attending a four-year college and self-identified as having a “technical aptitude,” like “working with people” and consider themselves a “problem-solver.”
After reading a short description of industrial distribution, the percentage of respondents rating the field either “very” or “somewhat” appealing rose to 69 percent from 61 percent. When asked why the field was appealing, responses ranged from “important work” to “wide range of opportunities” and “good pay.”
Over 930 industry professionals from around the world joined together at the spectacular JW Marriott Hill Country Resort in San Antonio, TX for NAHAD's 33rd Annual Meeting and Convention. The event featured engaging educational sessions, exceptional networking events, and a powerful Showcase of Hose Solutions, all of which provided invaluable business opportunities for the attendees.
Mark your calendar for NAHAD's 34th Annual,Convention, scheduled for April 28 - May 2, 2016 at the all-new JW Marriott Resort on Marco Island, Florida.
NAHAD is pleased to release the first of its new quarterly Markets Monitor Reports. This new quarterly member benefit provides pricing trends and market data for five common industrial product groups sold by NAHAD members. This report provides a national benchmark and comparisons of the latest quarterly data with the previous quarter and also the same quarter of the previous year. You can access this first report here, produced in partnership with MDM Analytics.
NAHAD’s March Trends Report offers further evidence of improving activity following the broad post-election improvement in optimism. Although not as robust as January (due to the calendar shift), February results showed a continuation of the broad-based improvement in sales and orders, improved backlog, and much improved inventory metrics suggests the pace of recovery could be more robust than we had previously expected following this long, drawn-out downturn.
Through the first two months of the quarter, sales growth in our survey is ~4% compared with a 2% decline in 4Q16. February marks the second conservative month of growth with sales up 2% following growth of 6% in January. Growth in February was impacted by one fewer selling day while the 6% increase in January was helped by an extra day.
We appear to be in the early innings of an inventory rebuild cycle. Sequentially, inventories improved for the second consecutive month with the strongest reading in over two years. Inventory sentiment was below the long run average for the sixth consecutive month.
Distributors and manufacturers have left their full year outlook for 2017 unchanged at up 5-6% on average. This is up from an initial outlook of 3% and follows a decline of ~5% in 2016.
We reached our goal...and more!
The members of NAHAD banded together in the fight to provide clean, safe drinking water to people in need all around the world. Together we've raised over $12,500 to help bring an end to the water crisis. But we can still do more.
Working with charity: water, a nonprofit organization that brings clean water to millions worldwide, NAHAD has committed to sponsoring a water project in a developing country. Join with us today and help us reach our goal and more.
Today's Industry News
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