Chicago Business Barometer Highest Level Since January The Chicago Business Barometer at highest level since January, rose to 64.1 in June. New orders were up for the second straight month while prices paid reached their highest level since May 2011. Lead times and backlogs also increased in June. Texas Factory Activity Continued in June The [...]
US Raw Steel Production Retreated Last Week US raw steel production retreated 0.7% last week as mills operated at an ACUR of 74.2%. In the corresponding week last year, mills operated at an ACUR of 74.9%. Thus far this year mills have produced prox 42,000,000 tons compared to the prox 41,344,000 tons produced in the [...]
Small Business Optimism Reaches Historic Level Small business optimism reaches historic level, according to the National Federation of Independent Business (NFIB) Small Business Optimism Survey, which rose 3.0 points in May, reaching the second highest level in the 45 year history of the survey. Wells Fargo US Stainless Steel Prices Rose Stainless steel prices in [...]
Unemployment Rate Fell to 3.8% The unemployment rate fell to 3.8% when employers added 223,000 jobs in May, reinforcing ramped up expectations for near term growth following favorable reports on April international trade and consumer spending. Wells Fargo Economic Outlook US Steel to Re-start "A" Blast Furnace at Granite City Illinois Mill US Steel plans to [...]
Texas Manufacturing Production Index Reached 12-Year High The Texas manufacturing production index reached a 12-year high, according to the Federal Reserve Bank of Dallas Texas Manufacturing Outlook Survey. It reports Texas manufacturing activity rose markedly in May. The production index, a key measure of state manufacturing conditions, increased 10 points to a 12-year high (35.2) [...]
May 2018 Empire State Manufacturing Survey Reports Business Activity Grew Strongly The Federal Reserve Bank of New York released its May 2018 Empire State Manufacturing Survey and reports business activity grew strongly in New York State, according to firms responding to the survey. The headline general business conditions index climbed four points. The new orders [...]
Consumer Spending Bounced Back In March After declining in both January and February, consumer spending bounced back solidly in March, rising 0.4 percent. Personal income rose slightly less, climbing 0.3 percent, causing the saving ratio to slip back to 3.1 percent. Wells Fargo Excerpts from a Wall Street Journal editorial (Business Carries the Economy) in [...]
North American Steel Output Increased North American steel output increased by 4.9% year on year in March to 10.29 million tons. Steel production in the USA inched up by 5.3% year on year to 7.26 million tons. AMM Global crude steel production rose by 4% year on year in March, partly attributed to Chinese production. [...]
Industrial Production Rose 0.5 Percent in March Industrial production rose 0.5 percent in March. Utilities accounted for more than half the gain but mining and manufacturing, led by autos, also expanded. Wells Fargo April 2018 Empire State Manufacturing Survey Reports Solid Growth The Federal Reserve Bank of New York released its April 2018 Empire State [...]
Small Business Optimism Slipped in March Small business optimism slipped 2.9 points to 104.7 in March following February's strong reading, which was the second highest in series history. Earnings and compensation trends were notable bright spots in the report. Higher worker compensation was reported by a net 33% of respondents, which is the highest level [...]
