The March ISA Economic Indicator Report (EIR) from the Industrial Supply Association indicated accelerating growth in February for both Manufacturers and Distributors.
The ISA Manufacturer Index increased from 58.9 in January to 62.5 in February, while the ISA Distributor Index rose from 57.8 in January to 63.4.
“The results of the March Economic Indicator Report are good news for the industrial supply industry,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “The year has started out with positive results and members for the most part are optimistic about the coming months.”
For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction. The Indexes have been above 50% since December 2012.