ASA’s Monthly Sales Report: July Sales Stay Strong as Industrial PVF Leads the Way

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By primary business emphasis the industrial PVF distributors: July sales 18.3% year-over-year (y/y). Year-to-date (YTD) sales +11.8% and trailing twelve months (TTM) sales +11.9%.

All respondents overall reported a median July sales increased +11.0% year-over-year and -2.0% compared with June 2026. YTD sales +8.9%; TTM sales +7.6%. Inventory: +8.5% versus July 2025. Cash cycle: Median three-month average Days Sales Outstanding (DSO) jumped up to 43.3 days--the highest level it's been since 2020.

Economic Indicators:
Recent economic data suggest the U.S. economy continued to expand entering the second half of 2026, although underlying conditions remain increasingly mixed. Real GDP grew at a 1.5% annualized rate in the second quarter, moderating from 2.1% in the first quarter, while stronger growth in private domestic demand suggests the headline slowdown may somewhat understate the economy's underlying resilience.

The labor market presents a similarly mixed picture: unemployment declined to 4.1% in July and unemployment claims remain relatively low, but payroll employment softened while labor-force participation continued to decline, indicating that labor conditions may be weaker than the headline unemployment rate alone suggests.

Long-term borrowing costs also remain elevated as rising federal debt, increased Treasury issuance, persistent inflation uncertainty, and geopolitical risks have contributed to higher Treasury yields, continuing to pressure housing and other interest-rate-sensitive investment.

Housing starts declined sharply in July, although an improvement in building permits provides some indication of potential stabilization ahead. At the same time, AI- and data-center-related construction remains a significant bright spot and is supporting pockets of industrial and commercial activity despite broader construction-sector weakness.

Inflation moderated somewhat in July; however, the continuing conflict with Iran and disruptions to shipping through the Strait of Hormuz remain important upside risks for energy prices, freight costs, global supply chains, and future inflation.

What ASA members are saying:

“After a record setting month during June, sales results did not disappoint in July. Quote and sales activity remained high and resulted in our 2nd highest month of sales in company history despite continued pricing pressures from competitors and ever-increasing vendor costs.”

“July used to be "plant shutdown" month and it's now become "plant vacation" month and our July results reflect that change.”

“July was a solid, but not spectacular month - HVAC was better year over year but not the growth we were hoping for. “

“July was slower than expected, but the sales were still higher than last July.”

“Sales in multi-family housing market remain strong.”