LEI Increased 0.2% in September The Conference Board Leading Economic Index was released and shows the LEI increased 0.2 percent in September following a 0.2 percent decline in August. The US LEI increased in September, reversing the August decline, which together with the pickup in the six month growth rate suggests that the economy should [...]
US Raw Steel Production Retreated Last Week US raw steel production retreated 1.6 percent last week as mills operated at an ACUR of 66.8 percent. In the corresponding week last year mills operated at an ACUR of 68.1 percent. Thus far this year mills have produced prox 68,763,000 tons compared to the prox 70,000,000 tons [...]
Overall Economy Grew for 88th Consecutive Month The Institute for Supply Management (ISM) issued its September 2016 Manufacturing ISM Report on Business and reports economic activity in the manufacturing sector expanded in September following a contraction in August and the overall economy grew for the 88th consecutive month. The report was issued by Bradley J. [...]
Consumer Confidence Increased for Second Consecutive Month The Conference Board Consumer Confidence Index, which had increased in August, improved further in September. Consumer confidence increased in September for a second consecutive month and is now at its highest level since the recession.” GDP Increased in Q2 2016 Real gross domestic product increased at an annual [...]
Raw Steel Production Rose 0.4 Percent US raw steel production rose 0.4 percent last week as mills operated at an ACUR of 69.8 percent. In the corresponding week last year mills operated at an ACUR of 70.5 percent. Thus far this year mills have produced prox 64,000,000 tons, down from the prox 65,000,000 tons produced [...]
The Manufacturing Business Outlook Survey Reports the New Orders Index Improved The Federal Reserve Bank of Philadelphia released its Manufacturing Business Outlook Survey for September 2016 and reports the index for current manufacturing activity in the region increased 11 points to 12.8. For the first time since August of last year the index has registered two [...]
The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index Increased Slightly Suggesting Modest Growth Modest growth in economic activity in July and early August was suggested by the Chicago Fed Survey of Business Conditions (CFSBC) Activity Index, which increased to -18 from -23. The CFSBC Manufacturing Index increased to a neutral value from -31. [...]
US Ferrous Scrap Markets are in a Fall with No Area Spared US ferrous scrap markets are in a fall with no area spared from the cost-cutting wave sweeping across the country. In Chicago, mills are actively buying shredded scrap at prices that are down $25 per gross ton from last month with cut scrap [...]
USA Drill Rigs Running Rose by 10 Last Week to 491 The number of USA drill rigs running rose by 10 last week to 491, led by Texas, up by eight. At this time last year there were 885 American drill rigs (AMM) pulling black gold from the earth. We have got a ways to [...]
August 2016 Manufacturing Business Outlook Survey Suggests "Positive But Tenuous" Growth The Federal Reserve Bank of Philadelphia released its August 2016 Manufacturing Business Outlook Survey and reports firms responding to the survey suggest “positive but tenuous” growth. The diffusion index for current general activity moved from a negative reading to a marginally positive reading while the [...]