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06/12/2015

NAHAD Industry Trends - May Update

Provided in partnership with Cleveland Research Company

March weakness carried forward into April despite a modestly easier comparison. This is consistent with our base case expectation which was for a full quarter of March type weakness. However, order deterioration, weaker manufacturer activity, another reduction to the full year outlook and increasingly difficult comparisons all suggest the magnitude of the declines will increase as we progress through the remainder of the quarter.

NAHAD Index

The April NAHAD Index produced a reading of 59.6 up from 48.0 in February. The broader ISM moderated to 51.5, down from the 52.9 reading last month.

The full year outlook was cut another 200-300 basis points in April following a 50-100 bp cut last month. Growth is now forecast up 1% for the full year 2015, down from 3-4% previously.

Sales in our April survey declined 2%, relatively in line with March (adjusted for selling days – down 1-2%) as continued weakness in oil / gas markets, as well as the broader industrial economy, remains a drag.

Want Full Report Details?

The monthly NAHAD Industry Trends Report is a free member service, available to all participating distributor and supplier members. Simply respond to the monthly survey request; it’s quick, easy and packed with valuable information. Questions? Contact Amy at aluckado@nahad.org.

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