The Fastener Distributor Index (FDI) survey for April, 2023 dropped again last month to 46.3 after reading 48.6 in March, seasonally adjusted. The Forward Looking Indicator (FLI) sank to a new all-time low with a reading of 37.8.
Key Takeaway:
The seasonally adjusted Fastener Distributor Index (FDI) weakened further to 46.3 compared to 48.6 in March. Respondents indicated raw material shortages and declining prices/margins were the primary drags in April. The Forward-Looking Indicator (FLI) also softened to just 37.8 (March 44.3). Overall, the FDI/FLI results suggest conditions remain soft in the fastener market.
Read report:
FDI_Report_April_2023
Stay tuned for episode #188 of the Fully Threaded Radio podcast with John Kovatch of AFC Industries and further commentary on the April FDI. Tune in at FullyThreaded.com
FND encourages all North American fastener distributors to take part in the FDI.
If you are interested in being a more active part of the fastener industry, you can apply to add your company to the FDI survey group. Complete the “Request an Invitation to Participate” form by clicking here. Once verified, you will receive login ID and password information and you will be notified by email every month when the survey period has been opened.
– Fastener News Desk
About the Fastener Distributor Index (FDI).
The Fastener Distributor Index (FDI) was developed as a service to the fastener industry by the FCH Sourcing Network in 2012 to be a new benchmark for the fastener industry. The FDI is a monthly survey of North American fastener distributors, conducted with the FCH Sourcing Network and Baird with support from the National Fastener Distributors Association. It offers insights into current fastener industry trends/outlooks. Similarly, the Forward-Looking Indicator (FLI) is based on a weighted average of four forward-looking inputs from the FDI survey. This indicator is designed to provide directional perspective on future expectations for fastener market conditions. As diffusion indexes, values above 50.0 signal strength, while readings below 50.0 signal weakness. Over time, results should be directly relevant to Fastenal (FAST) and broadly relevant to other industrial distributors such as W.W. Grainger (GWW) and MSC Industrial (MSM).
The FDI Survey website is a resource than can be accessed by anyone, but it can only be updated by registered users during the monthly open survey period, which occurs during the last week of each month.
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Fastener Distributor Index, Industrial Distribution, Industrial Supply
