According to the latest monthly business index results, fielded to AVIXA's AV provider insight community, over half indicated having more than 12 weeks' worth of project backlog, which was the top of the provided range of options. The next most common response awas 5-8 weeks, with 23%. Taken as a whole, the results suggest pro AV has around a quarter of project backlog to get through as we enter the new year. Given the limit on the response range, the true amount could even be a bit higher. As we have written in the past, this could be viewed as a form of good news given the threat of recession, since a decline in new demand would allow the industry to catch up and work through the backlog. And with current recession outlooks leaning towards a shorter contraction period of just a couple of quarters with smaller percentage declines, this buffer may be enough to carry the industry through the recession period, at least from an average company perspective. Individual company experiences will clearly vary as the actual recession situation plays out differently across the globe. The recession itself may also prove to be longer or more severe. But the limited survey results suggest at least some strength to the channel. As always, we'll keep you posted as things develop from here.