Chicago Business Barometer Rose 6 Points in August
The MNI Chicago Business Barometer rose 6 points to 50.4 in August. The index has been in contractionary territory for two months prior to this month’s gain. Only two of the business activity components saw a monthly decline.
The survey still suggests a softer overall tone in business activity despite the August pick-up in sentiment, as the three-month average fell again, dipping to 48.2. Production remains muted, despite a pick-up of 6.7 points. Demand recovered slightly, highlighted by an increase in New Orders, which saw the largest single component monthly gain and shifted back into expansion. Order backlogs recovered after three straight months of decline. Inventories witnessed the largest monthly percentage decline, falling by 11.2 percent, indicating that firms started to run down inventories.
August 2019 Manufacturing ISM Report on Business Reports Decline
The Institute for Supply Management issued its August 2019 Manufacturing ISM Report on Business and reports economic activity in the manufacturing sector declined in August and the overall economy grew for the 124th consecutive month, say the nation’s supply executives in the latest report.
The report was issued 9/3/19 by Timothy R. Fiore, CPSM, CPM, Chair of the Institute for Supply Management Manufacturing Business survey Committee;
The August PMI registered 49.1 percent, a decrease of 2.1 percentage points from the July reading of 51.2 percent. The New Orders Index registered 47.2 percent, a decline of 3.6 percentage points from the July reading. The Production Index registered 49.5 percent, a 1.3 percentage point decline from the July reading. The Inventories Index registered 49.9 percent, an increase of 0.4 percentage point from the July reading.
Comments from the panel reflect a notable decrease in business confidence. August saw the end of the PMI expansion that spanned 35 months, with steady expansion softening over the last four months.
Construction Spending Rose in July
Construction spending rose 0.1% in July, with a rise in residential outweighing a drop in nonresidential. Higher labor costs and trade uncertainty are weighing on construction outlays, which are down 2.1% YTD. Wells Fargo
US Drill Rigs Running Down Last Week
There were 904 drill rigs running in the US last week, down 12 rigs from the prior count. Meanwhile, Canadian drilling rose by 11 rigs to 150 from the previous weeks count.
US Raw Steel Production at ACUR 79.5%
In the week ending August 31, US raw steel production was 1,850,000 tons at an ACUR of 79.5 percent. Thus far this year mills have produced prox 65,313,000 tons compared to the prox 62,723,000 tons produced in the like period last year.
The US Census Bureau July Advance Report on Manufacturers’ Shipments, Inventories and Orders:
- New orders for manufactured durable goods in July increased 2.1 percent. This increase, up two consecutive months, followed a 1.8 percent June increase.
- Shipments of manufactured durable goods in July, down following two consecutive monthly increases, decreased 1.1 percent. This followed a 1.0 percent June increase.
- Inventories of manufactured durable goods in July, up twelve of the last thirteen months, increased 0.4 percent. This followed a 0.3 percent June increase.
Employers added 130,000 jobs in August and the jobless rate held steady at 3.7%
Continued Mass Shootings …
In light of the insanity gripping our nation with the continuing mass shootings, I feel compelled to keep saying this: THIS COUNTRY DOES NOT NEED MORE BACKGROUND CHECKS FOR THE PURCHASE OF A FIREARM.
THIS COUNTRY DOES NEED TO ADDRESS THE MENTAL FITNESS OR LACK THEREOF, OF THOSE WHO OWN OR WISH TO EXERCISE THEIR CONSTITUTIONAL RIGHT TO OWN A FIREARM.
The Democrats, leftists, progressives-whatever you call them, wish to DISARM the American people. A nation of people who are unable to defend themselves from a tyrannical and oppressive government, will be a lost and subdued nation of people. This is the key point of the Second Amendment to the US Constitution.
Tell me why Ilhan Omar, the anti-American, Jew hating Congressperson is STILL in Congress. She lied her way into this country, has committed tax fraud, married her brother and is currently having an affair, while married, to one of her staffers…whom she has funded with some $230,000.00 of campaign funds. Isn’t that illegal? Where is the outrage? From the left or the right? I mean really? Such hypocrisy…Let a conservative try that bullcrap…he or she would be drawn and quartered.
As an American citizen, how do you want our country to move forward for you and your family:
SECURE BORDERS? OPEN BORDERS?
MORE GOVERNMENT? LESS GOVERNMENT?
A STRONG MILITARY? A WEAK MILITARY?
LESS TAXATION? MORE TAXATION?
LESS GOVERNMENT REGULATION? MORE GOVERNMENT REGULATION?
FAIR TRADE AGREEMENTS? QUID PRO QUO TRADE AGREEMENTS?
PROPER CARE FOR OUR VETERANS? DON’T CARE FOR OUR VETERANS?
MERIT BASED IMMIGRATION? THE SHIT WE HAVE NOW?
RESPONSIBLE HELP FOR THE POOR? THROW MONEY AT THE PROBLEM?
TEACH AMERICAN HISTORY TO OUR CHILDREN? ERASE AMERICAN HISTORY?
RESPECT OUR FLAG? DON’T GIVE A SHIT?
SAY THE PLEDGE OF ALLEGIANCE IN SCHOOL? WHAT IS THAT?
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term, but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
“KEEP AMERICAN GREAT”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”</blockquote