The Conference Board Leading Economic Index Confirms a Positive Outlook
Released on 6/18, the Leading Economic Index (LEI) for the US increased 0.7 percent in May following a 0.7 percent April increase and a 0.4 percent increase in March.
Increasing sharply again in May, the Leading Economic Index confirms a positive outlook for more economic expansion in the second half of the year after what looks to be a much weaker first half. While residential construction and consumer expectations support the more positive outlook, industrial production and new orders in manufacturing are painting a somewhat more mixed picture.”
~Ataman Ozyildirim, Director, Business Cycles and Growth Research at the Conference Board
The Federal Reserve Bank of Philadelphia Manufacturing Business Outlook Survey
Manufacturing conditions in the region improved in June according to firms responding to this month’s Manufacturing Business Outlook Survey. Indicators for general activity, new orders, and shipments remained positive and increased over their readings in May…. The survey’s indicators of future activity suggest that firms expect continuing growth in the manufacturing sector over the next six months.”
US Raw Steel Production
US raw steel production rose 1.5 percent last week as mills operated at an ACUR of 73.9 percent. In the corresponding week last year mills operated at an ACUR of 78.5 percent. Thus far this year mills have produced 40,111,000 tons of steel at an ACUR of 72.4 percent, down from 77.3 percent in the same period last year. This is annualizing at around 80 million tons, about 20million tons short of a healthy and robust market (historically speaking).
June 2015 Empire State Manufacturing Survey
The survey indicates that business conditions worsened slightly for New York manufacturers. The headline general business conditions index fell five points to -2.0, its second negative reading in the past three months…. the index for future business conditions retreated in June suggesting that optimism about future business conditions waned.
The Board of Governors of the Federal Reserve System Report on Industrial Production and Capacity Utilization
- Industrial production decreased 0.2 percent in May after falling 0.5 percent in April.
- Manufacturing output decreased 0.2 percent in May and was little changed, on net, from its January level.
- In May, the index for mining moved down 0.3 percent after declining more than 1.0 percent per month, on average, in the previous four months. The slower rate of decrease for mining output last month was due in large part to a reduced pace of decline in the index for oil and gas well drilling and servicing.
- Total industrial production in May was 1.4 percent above its year earlier level. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 78.1 percent, a rate that is 2.0 percentage points below its long run (1972-2014) average.
The Currency of Political Correctness
Alexander Hamilton to share his image on $10 bill…with a woman. The currency will be unveiled in 2020, the 100th anniversary of the 19th Amendment. Images on our currency have been… and should remain…those of Founding Fathers (not Founding Mothers) and honorable Presidents (there has been no honorable woman president to this point, and not all male presidents have been honorable). I am so sick and tired of this politically correct bullshit that I want to vomit.
Cops are the bad guys, men marrying men, women marrying women ( is it probable that someone will soon want to marry a farm animal?),” I’m black” (but I am white), “I’m white” (but I am black or some other ethnicity), can’t say this, can’t say that, can’t do this, can’t do that, can’t call your sports team the Braves or the Tribe or the Redskins, men becoming women, women becoming men, you can desecrate the American Flag but cannot recite the Pledge of Allegiance in school …what is this country coming to? Where are our morals? Our high standards? Pride in our history? Everything has been twisted around.
Al Qaeda’s second in command has been killed in a US airstrike in Yemen, according to reports received Tuesday morning. Good riddance you piece of camel crap.
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.
Remember these tidbits as the election cycle grinds on:
- Fast & Furious-Americans killed by guns supplied to the drug cartels…by the Department of Justice-Eric Holder presiding. The president was clueless. No one held accountable
- Benghazi: Four Americans killed in an assault described as the result of a viral video. This was proved to be a false narrative. This was in fact, a planned act of terror. The president was clueless. No one even knows where he was as this went down. No one held accountable
- “At this point, what difference does it make?” Hillary Clinton as Secretary of State
- The IRS targeting of conservative groups and individuals. No one held accountable, Lois Lerner is on paid vacation and has refused to testify. The president was clueless. No one held accountable
- Hillary using a private server for correspondence during her term as Secretary of State against the orders of the president. She thought “it would be more convenient…” Though the records were due when she left office, they were not submitted, subpoenas were issued, which she ignored for two years. Finally, she released 30,000 of some 60,000 alleged emails then she deleted the rest of the emails and will NOT turn over the server for investigation.