The monthly Economic Indicator Report (EIR) from the Industrial Supply Association showed that the pace of growth for ISA members slowed compared to last month but the Index has remained in positive territory for 11 straight months.
The ISA Manufacturer Index declined from 66.7% in October to 62.0% in November, while the Distributor Index decreased from 70.9% in October to 58.5% in November. For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
“The results for manufacturers of cutting tools mirrored overall results, as the Cutting Tools Manufacturer Index declined from 62.4% in October to 58.6% in November,” said John Buckley, ISA executive vice president.
The Industrial Supply Association is the leading association for members of the maintenance, repair, operations and production (MROP) supply chain, representing nearly 1,000 companies worldwide.