The February ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that manufacturers and distributors started the year off strong, with both indices rising in January.
The ISA Manufacturer Index increased to 63.5 in January from 58.0 in December. Meanwhile, the ISA Distributor Index increased to 67.2 in January compared to 54.6 in December.
For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
“The year started off strong for ISA members following a solid year in 2016,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “Comments from survey participants are overwhelmingly positive concerning the economic outlook early in 2017. The New Orders Index and the Business Activity Index also remain in positive territory, which should bode well for business in the coming months.”