Written by R.W. Baird analyst David J. Manthey, CFA 8/5/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for July was 54.6, consistent with improving momentum (above 50 reading) but at a slower rate vs. the improvement seen in June (FDI decreased m/ m). As a diffusion index, the 54.6 reading indicates the trajectory […]
Written by R.W. Baird analyst David J. Manthey, CFA 7/6/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for June was 56.9, surging m/m as the economic re-opening continued. Sales trends were better than seasonally expected for a majority of respondents, the first time that has occurred since January. The six-month outlook further improved […]
Written by R.W. Baird analyst David J. Manthey, CFA 6/4/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for May was 45.0, showing signs of recovery as states began reopening and some manufacturing/construction customers resumed operations. Sales trends on a seasonally adjusted basis improved m/m, albeit off a very low base. The six-month outlook […]
Written by R.W. Baird analyst David J. Manthey, CFA 5/6/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for April was 40.0, deteriorating further as the full brunt of COVID-19 customer shutdowns was felt. Sales trends on a seasonally adjusted basis were again much weaker. The six-month outlook encouragingly showed some signs of stabilization, […]