ASA distributor year-to-date sales finish in positive territory in 2023
Year-over-year sales dropped -2% for December 2023 vs. 2022. On a month-to-month basis (December vs. November 2023), all respondents reported sales decline of -9%--the second consecutive month of declines. Year-to-date sales through December 2023 remained in positive territory at nearly 2% growth vs. 2022.
“2023 came in like a lion and out like a lamb — January and February recorded double digit year-over-year growth to begin the year, while the year ended with most firms reporting flat or declining sales for November and December. It was a very challenging economic environment to operate in for 2023,” Industry Insights Senior Vice President Greg Manns said. “In July, we had the fourth-rate hike of 2023 — the last of 11 hikes that began in March 2022. This tightening monetary policy created a headwind for many of the construction related industries."