US-Imposed Tariffs Ended on Steel and Aluminum Imported from Canada and Mexico US-imposed tariffs ended on steel and aluminum imported from Canada and Mexico. Just in from the Wall Street Journal 2:48pm 5/17/19: The Trump Administration has reached agreements with Canada and Mexico to end US-imposed tariffs on steel and aluminum imports, removing a major barrier [...]
Small Business Optimism Rebounded to All-Time Highs Small business optimism rebounded to new all-time highs this spring after tumbling 11 points earlier this year. The Fed's pivot away from further rate increases earlier this year appears to have alleviated many of the fears business owners expressed during the Q1 survey. Wells Fargo US Drill Rigs Running [...]
Expectations Index Increased in March Based on consumers' short-term outlook for income, business and labor market conditions, the Expectations Index increased to 103.0 from 98.3 in March. The Conference Board Consumer Confidence Index improved in April after decreasing in March. Consumer Confidence partially rebounded in April but remains below levels seen last fall. US Added [...]
Real GDP Increased 3.2% Real Gross Domestic Product (GDP) increased 3.2 percent in the first quarter of 2019, according to the "advance" estimate released by the Bureau of Economic Analysis (BEA). In the fourth quarter of 2018, real GDP increased 2.2 percent. Durable goods orders rose 2.7% in March. Core capital goods orders suggest the [...]
Business Activity Grew Modestly in NY State in April Business activity grew modestly in New York State in the month of April, reports The Federal Reserve Bank of New York Empire State Manufacturing Survey. The headline general business conditions index rose 6 points, indicating growth picked up somewhat but remained fairly subdued. New orders rose [...]
Business Optimism Remains Elevated The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 0.1 point in March. While the index has fallen from lofty highs of recent years, business optimism remains elevated and businesses continue to report plans to expand. Wells Fargo House Finance Committee Hearing Here's a good one: On Wednesday, [...]
Hourly Wages Grew 3.2% from a Year Earlier Hourly wages grew 3.2% from a year earlier, as hiring in the US sprang back in March and the unemployment rate remained at a historically low level, underscoring that the labor market remains a source of strength for the economy. Non-farm payrolls increased a seasonally adjusted 196,000 [...]
Precision Machining Index Rebounded Registering 56.2 for January 2019, the Gardner Business Index (GBI): Precision Machining Index rebounded from December's two year low reading. Over the 2017 and 2018 calendar years, the Production Machining Index averaged 56.2, marking the fastest and longest expansionary business cycle in Gardner's recorded history. January's readings for production and new [...]
Manufacturing Conditions Improved in March The Federal Reserve Bank of Philadelphia released its March 2019 Manufacturing Business Outlook Survey and reports manufacturing conditions improved in the region this month. The indicators for general activity, new orders and shipments returned to positive territory while the employment indicator remained positive. US Raw Steel Production ACUR 82.9% In [...]
Consumer Spending Bounced Back in January January retail sales showed that consumer spending bounced back in January but not enough to offset a weak December. Wells Fargo Small Businesses Remain Upbeat About Economy The National Federation of Independent Business (NFIB) Small Business Optimism Index stabilized and rose in February. With the government shutdown in the [...]
