The US trade deficit increased by 0.5% to $62.2 billion in December, although the annual trade gap for 2023 dropped to its lowest in three years, delivering a significant boost to the nation's overall economic performance. Despite a decrease in imports due to lower oil costs and reduced demand for consumer goods, US exports reached a record high in 2023 on the back of a weaker dollar and higher oil shipments. Mexico has also overtaken China as America's top import source for the first time in 20 years as companies leverage lower costs and stable trade relations with the US.

The National Association of Wholesaler-Distributors' Executive Summit took place in Washington, D.C., late last month, featuring notable distribution executives and covering a range of challenges and opportunities facing the distribution industry. MDM's Mike Hocket sat down with seven industry leaders at the summit, exploring their biggest takeaways from the summit and company initiatives for the coming year.

US LBM is acquiring Old Mission Windows, a Traverse City, Mich.-based window and door distributor Old Mission Windows, which serves residential homebuilders and contractors in northern Michigan. US LBM, a specialty building materials distributor, will expand its product offering with the deal and broaden its reach.

UK robotics startup Dexory plans to bring its DexoryView shelf-scanning robot to the North American market. DexoryView scans shelving units to create a 3D model and uses a collapsible tower to reach higher shelves.

Removing silos and organizing data is the first step in creating a more transparent and functional supply chain, writes Damien Martin. Digital platforms and software such as ServiceNow, DFreight and Fastenal can help manage inventory, make demand forecasts and give greater visibility into the various aspects of the supply chain.

Business-to-business marketers can boost success this year by creating strong, individual customer experiences and focusing on brand storytelling to raise awareness, writes Calian IT & Cyber Solutions' Salim Gheewalla. Experiment with AI to be more efficient and deliver consistent brand messaging across all channels, Gheewalla advises.

Several large US firms capitalized on favorable conditions in the corporate bond market and issued bonds in January, with non-financial investment-grade companies raising $81.5 billion in debt, a 38% jump from a year earlier. Lower borrowing costs and high investor demand are creating a scenario in which some companies can earn more interest on cash than they are paying on debt. Analysts expect issuance to remain steady in February, though total volumes are likely to drop amid quarterly earnings blackout periods.

Roughly two-thirds of the way through fourth quarter earnings season, S&P 500 firms are reporting a 6 percentage-point earnings per share beat, according to Bank of America, or roughly double the average 3 percentage-point beat. More than two-thirds of companies have exceeded Wall Street expectations, which is above the historical average of 63%, and the S&P 500 is on pace for 1.9% earnings per share growth compared to a year earlier. However, earnings beats have primarily been driven by cost-cutting and margin improvement as opposed to sales growth.

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