Industry Insight Report: Industrial Supply Distributors Q4-2024
Industry Insight Report: Industrial Supply Distributors Q4-2024
Record High Prices
Producer prices for machinery and supply wholesalers climbed to a new high in September, rising 2% compared to a year ago, according to the latest US Bureau of Labor Statistics data. Sales for machinery and equipment wholesalers were up 5.2% in July year over year and 3.8% versus June, according to the Census Bureau. Meanwhile, inventories are near record highs. Employment by industrial supply distributors grew 1.4% in September YoY, while average industry wages climbed 5.1% over the same period to $29.30 per hour, BLS data show.
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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 increases Overall employment by industrial supply distributors changed 0.8% in October 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 $30.22 per hour in October, a 7.0% 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 Q4-2024
Record High Prices
Producer prices for machinery and supply wholesalers climbed to a new high in September, rising 2% compared to a year ago, according to the latest US Bureau of Labor Statistics data. Sales for machinery and equipment wholesalers were up 5.2% in July year over year and 3.8% versus June, according to the Census Bureau. Meanwhile, inventories are near record highs. Employment by industrial supply distributors grew 1.4% in September YoY, while average industry wages climbed 5.1% over the same period to $29.30 per hour, BLS data show.
News Spotlight:
When to Buy Raw Materials: A Guide for Manufacturing Firms
B2B News Network: 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 increases
Overall employment by industrial supply distributors changed 0.8% in October 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 $30.22 per hour in October, a 7.0% change compared to a year ago.
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