R.W. Baird analyst David J. Manthey writes: "The August seasonally adjusted Fastener Distributor Index (FDI) bounced back nicely from last month’s sub-50 reading, increasing back into expansionary territory at 52.6. This was consistent with a still very positive FLI reading last month. Demand commentary seemed to suggest further slowing ahead is likely, however, with commentary noting customers are pushing out deliveries and trying to preserve cash in some cases. Pricing remained fairly stable with last month and still at elevated levels. Looking forward, the Forward-Looking Indicator (FLI) retracted to just 47.4, however, as respondents remain overall cautious. Net, August marked a nice bounce back from a soft July but forward-looking commentary and the FLI indicates more choppy conditions ahead are likely."
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