Genuine Parts saw a meaningful deceleration in industrial business

After being up 12% in Q1, the industrial operations segment of Genuine Parts, GPC, up was 8% in Q2, 4.5% in Q3, and 2% in Q4. These trends are consistent with what GPC has seen across the industry. Of particular interest is the fact that the Q4 slowdown became more pronounced in the final weeks of December. These comments are from the company's Q4 earnings conference call.