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 [...]
Midwest Economic Index Up in February The Midwest Economic Index up in February to +0.44 from +0.34 in January. Three of the four broad sectors of non-farm business activity and three of the five Seventh Federal Reserve District states increased from January. March 2018 Manufacturing ISM Report on Business: Overall Economy Grew for 107th Consecutive Month [...]
Timken Steel Raised SBQ Prices In a leading move, Timken Steel raised SBQ prices. The Canton, Ohio company raised its special bar quality (SBQ) product prices by $50-$150 per ton effective Wednesday March 28, 2018. This comes after SBQ mills in the USA slated base price increases effective with April 1 shipments. US producers raised SBQ [...]
Notable Pop in Motor Vehicle and Parts Production Friday's 1.1 percent jump in industrial production is an indication of the long-awaited convergence of recently more upbeat survey data. All major categories were higher as well, notable was the 3.9 percent pop in motor vehicle and parts production. US Raw Steel Production Increased US raw steel production [...]
Consumer Sentiment at Highest Level Ever With consumer sentiment at highest level ever, the University of Michigan's early read shows March consumer sentiment rose 2.3 points to 102.0, its highest level since 2004 and its highest level ever. Wells Fargo US Raw Steel Production Eased Back Last Week US raw steel production eased back last [...]
US Raw Steel Production Highest Since 2015 With US raw steel production highest since 2015, it rose 2.9 percent as mills operated at an ACUR of 78.7 percent. The highest production level since the week ended January 10, 2015. When the ACUR was 79 percent. In the corresponding week last year, mills operated at an [...]
Rising to Its Highest Level Since 2000, US Consumer Confidence at Highest Reading Ever Rising to its highest level since 2000, US Consumer Confidence at highest reading ever. The strong jobs market has pushed consumers' assessment of the present economic situation even higher. Wells Fargo Texas Manufacturing Accelerated and Production Index Rose 11 Points The [...]
