I thought this comment from the Fastenal conference call was worth highlighting. It’s the first thing that the CEO addresses:
Manufacturing has slowed, that’s clear. But on a very positive note, I’ve been out talking to lot of our regional people and district people, and we have not seen a lot of abrupt changes. It’s more of a step-down, and we haven’t seen a lot of panic from our customers, so we think although it’s much slower, so much slower than it was, it doesn’t appear to be a lot of panic going on, so that gives us some optimism for the next several months.