Industrial distribution dealmaking activity remained robust in October, with 30 transactions reported, up from 26 in September. Notable deals included True Value's sale to Do it Best, Core & Main's acquisitions of ARGCO Northeast and Eastcom Associates, and US LBM's purchase of Milton Truss and Texas Tool Traders. Year-to-date transactions reached 291, and the 29.1 deals per month average is significantly higher than last year's 24.2.

Wesco, a distributor of electrical supplies based in Pittsburgh, has agreed to a $185 million deal to buy Virginia-based Ascent LLC, which specializes in data center facility management and has reported $115 million in sales over the past 12 months. The deal is expected to strengthen Wesco's engineering and professional services and be finalized in the fourth quarter.

Holiday shipping will be slower and cost more this year, according to a Coresight Research report, which cites phased surcharges for the holiday season from FedEx and UPS and labor shortages in the logistics sector. However, improved planning and technology use are expected to mitigate some challenges. The report also forecasts a 3% increase in total retail sales and a 9% rise in online sales for the fourth quarter from a year ago.

US construction spending saw a slight increase in September, rising by 0.1% to a seasonally adjusted annual rate of $2.148 trillion, according to the Census Bureau. The uptick was primarily driven by a 0.5% rise in public construction spending, particularly in educational and highway projects. However, private construction spending remained virtually unchanged, with residential construction edging up by 0.2% while non-residential construction dipped by 0.1%.

Amazon has been driving efficiency in its inbound fulfillment processes by implementing extensive changes, including the addition of more than 15 new buildings and the use of additional robotics. CEO Andy Jassy said on an earnings call that the company has "improved our ability to spread inventory across our fulfillment centers by 25% year over year, allowing us to have more of the requisite items in fulfillment centers closest to the customer."

Geopolitical tensions, such as the Red Sea crisis and the Russia-Ukraine war, have significantly disrupted supply chains this year. Gartner's Marco Sandrone advises chief supply chain officers to enhance data visibility, regionalize supply chains, engage in scenario planning and strengthen partnerships to mitigate these risks and maintain performance.

UPS plans to hire more than 125,000 seasonal workers to help with demand on its system from the Friday after Thanksgiving through mid-January, while the US Postal service says it will take on around 7,500 temporary employees. FedEx has seasonal openings on its website, but has not published specific numbers of holiday vacancies.

Brands have a unique opportunity to bridge societal divides by emphasizing shared values such as hard work, honesty and freedom, writes Greg Andersen, CEO and head of strategy at Bailey Lauerman. While some companies have retreated from social responsibility due to fear of backlash, brands can be "agents of connection [by] leading with the values that unite us and creating experiences that foster real-world community building," Andersen writes.

The US economy remains robust despite a weaker-than-expected October jobs report, which was affected by a Boeing strike and hurricanes. The economy added only 12,000 jobs in October, but GDP grew at a 2.8% annual rate in Q3, and S&P 500 earnings increased by 8.4% year-over-year. Consumer confidence also reached its highest level since March 2021.

As voters go to the polls today, leaders can create a less stressful office environment by modeling civility and acceptance of differing points of view along with emphasizing inclusivity, writes Tarun Galagali, the CEO and founder of Mandala. Set clear expectations for office decorum, and remember, results may not be immediate, so "we need to leave that outside and come into work focused on being better as an organization," says Joe Galvin, chief research officer at Vistage.

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