Industry Insight Report: Industrial Supply Distributors Q3-2024
Industry Insight Report: Industrial Supply Distributors Q3-2024
Rising Wholesale Prices
US wholesale prices rose by a larger-than-expected 2.6% in June from a year earlier, a sign that some inflation pressures remain elevated, according to the Labor Department. The June rise in wholesale prices was the sharpest year-over-year increase since March 2023 and comes at a time when other price indicators show that inflation has continued to ease. Month over month, the producer price index rose 0.2% in June versus May. The June increase in wholesale inflation was driven by a 0.6% rise in services prices, led by higher profit margins for machinery and auto wholesalers, according to the Labor Department.
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Industry Forecast
Sales for the US industrial supply distributors industry are forecast to grow at a 2.61% compounded annual rate from 2024 to 2028, slower than the growth of the overall economy.
By the Numbers
Employment by industrial supply distributors decreases Overall employment by industrial supply distributors changed -0.6% in July compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at industrial supply distributors rise Average wages for nonsupervisory employees at industrial supply distributors were $28.49 per hour in July, a 2.9% change compared to a year ago.
Lion Business Advisors quarterly industry insights data provided by VerticalIQ industry intelligence platform
Industry Insight Report: Industrial Supply Distributors Q3-2024
Rising Wholesale Prices
US wholesale prices rose by a larger-than-expected 2.6% in June from a year earlier, a sign that some inflation pressures remain elevated, according to the Labor Department. The June rise in wholesale prices was the sharpest year-over-year increase since March 2023 and comes at a time when other price indicators show that inflation has continued to ease. Month over month, the producer price index rose 0.2% in June versus May. The June increase in wholesale inflation was driven by a 0.6% rise in services prices, led by higher profit margins for machinery and auto wholesalers, according to the Labor Department.
News Spotlight:
The Essential Role Of Industrial Valve Suppliers And Distributors In Modern Industries
Harlem World Magazine: Full Article »
Industry Forecast
Sales for the US industrial supply distributors industry are forecast to grow at a 2.61% compounded annual rate from 2024 to 2028, slower than the growth of the overall economy.
By the Numbers
Employment by industrial supply distributors decreases
Overall employment by industrial supply distributors changed -0.6% in July compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at industrial supply distributors rise
Average wages for nonsupervisory employees at industrial supply distributors were $28.49 per hour in July, a 2.9% change compared to a year ago.
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