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 [...]
New Orders Increased for First Time in 3 Months New Orders increased for the first time in three months, but the increase was not large enough to offset last month's fall. Production picked up to match its three-month average but was significantly below its twelve-month average. The rise in business confidence was led by Production and [...]
Consumer Confidence Index Improved The Conference Board Consumer Confidence Index improved in May, following an increase in April. Consumer confidence posted another gain in May and is now back to levels seen last fall when the index was hovering near 18-year highs." Said Lynn Franco, Senior Director of Economic Indicators at the Conference Board. US [...]
LEI Increased 3 Consecutive Months The LEI increased 3 consecutive months, according to the Conference Board Leading Economic Index (LEI) for the US, which showed an increase of 0.2 percent in April following a 0.3 percent increase in March and a 0.2 percent increase in February. The US LEI rose in April, the third consecutive [...]
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 [...]
