According to this month’s Industry Trends report, activity in November remained robust with both sales and orders growing double-digits for the fourth consecutive month in a row. Growth continues to be broad based as all 17 end markets remained in positive territory. This strength is reflected in the 2018 sales growth outlook which was raised to 9%, up 200bps from initial expectations of 7%.
Over a third of survey participants raised their outlook for 2018 resulting in a 200bps increase to the average forecast which is now for 9% growth. Sales growth in our survey increased 13% in November an acceleration from the 11% growth in October. This marks the fourth consecutive month of double-digit sales growth. Inventory levels, stretched lead times and raw material inflation are supportive of a healthy pricing environment as suppliers are announcing price increases heading into 2018.
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