July Retail Sales Surpassed Expectations July retail sales surpassed expectations. Rising 0.7 %, gains were broad-based with ten of the thirteen categories seeing an increase in sales over the month. Wells Fargo US Drill Rigs Running Down From Previous Count There were 934 drill rigs operating in the US last week, down 8 rigs from [...]
US Raw Steel Production ACUR 81.5 Percent Last Week US raw steel production ACUR of 81.5% produced 1,897,000 tons in the week ending August 3, 2019. Thus far this year mills have produced prox 57,945,000 tons compared to the prox 55,279,000 tons produced in the like period last year. US Drill Rigs Running Down From [...]
Consumer Sentiment Remains Elevated At 98.4, consumer sentiment remains elevated. Confidence has been resilient in the face of trade uncertainty and could be a concern going forward. Personal finances were a bright spot in this month's report. Texas Manufacturing Outlook Survey Reports Factory Activity Continued to Expand in July The Federal Reserve Bank of Dallas [...]
2019 Q1 Real GDP Increased 3.1% In 2019 Q1 real GDP increased 3.1 percent. Real gross domestic product (GDP) increased 2.1 percent in the second quarter of 2019, according to the "advance" estimate released by the Bureau of Economic Analysis (BEA). The CFNAI Ticked up in June The Chicago Fed National Activity Index (CFNAI) ticked [...]
Real Personal Consumption Rose Solidly in Q2 Real personal consumption rose solidly in Q2, suggested by control group sales which rose 0.7%. Retail sales rose a solid 0.4% in June, despite a huge 2.8% drop in sales at gasoline stations. Wells Fargo Industrial Production Flat in June Industrial production was flat in June as a droop [...]
Iron Ore Prices Soared 67% This Year "Iron ore prices soared 67% this year, a resurgence driven by falling supplies that has led to challenging times for steel mills that use the material. As steel's main ingredient, iron ore is one of the world's most traded commodities and can influence prices for materials used in [...]
Construction Spending Fell 0.8% During May Construction spending fell 0.8% during May and broad-based declines overshadow upward revisions to prior months' spending. Residential remains weak while public spending continues to boost nonresidential. Wells Fargo The Institute for Supply Management June 2019 Report on Business The report shows economic activity expanded in June and the overall [...]
Consumer Confidence Hit Lowest Level Since September 2017 After two consecutive months of improvement, in June Consumer Confidence hit lowest level since September 2017." Said Lynn Franco, Senior Director of Economic Indicators at the Conference Board The Conference Board Consumer Confidence Index declined in June, following a May increase. The Present Situation Index, based on consumers' [...]
General Business Conditions Index Largest Monthly Decline on Record The headline general business conditions index largest monthly decline on record plummeted twenty-six points in June, according to the Federal Reserve Bank of New York Empire State Manufacturing Survey for June 2019 and business activity took a sharp downturn, according to firms responding to the survey. [...]
Industrial Production Rebounded in May Industrial production rebounded 0.4 percent in May, its first increase this year. Challenges remain for the manufacturing sector which will likely keep the trend in industrial production weak. Wells Fargo US Drill Rigs Running Dropped Last Week The number of drill rigs operating in the USA dropped by 9 last [...]
