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 Manufacturing Survey and reports business activity grew at a solid clip in New York State, according to firms responding to the survey.
The headline general business conditions index remained firmly in positive territory. The new orders index and the shipments index’s both suggested ongoing, albeit, more measured, growth.
Business Inventories Rose 0.6 Percent in February
Business inventories rose 0.6 percent in February. The solid pace of stockpiling the last few months points to inventories making a sizable contribution Q1 GDP. Wells Fargo
Overall SBQ Demand Historically High
Special Bar Quality (SBQ) prices rose after buyers accepted recent price increases and higher surcharges and overall demand was reported at historically high levels. Lead times have stretched out as far as three to four months for key items, according to market participants. Some buyers are unable to purchase all the quantities they want.
This is the busiest period ever,” one SBQ mill source reported.” Every segment is busy.”
Supplies are exceptionally tight, with the recent idling of two mills coming at a particularly importune time for SBQ consumers. A long-term shut down at Hamilton Specialty Bar would eliminate a reputed 300,000 to 400,000 tons of annual capacity, according to a midwestern distributor, who also noted the closure of Kentucky Electric Steel has exacerbated the capacity challenge. AMM 4/17/18
USA Drill Rigs Running Rose Last Week
The number of drill rigs running in the USA rose by five last week (1008), led by Texas (up by three). Meanwhile, Canadian drilling slid by nine rigs (to 102) compared to the previous week. AMM
US Raw Steel Production Slipped Last Week
US raw steel production slipped 1.2 percent last week as mills operated at an ACUR of 76.1 percent. In the corresponding week last year, mills operated at an ACUR of 73.8 percent. Thus far this year mills have produced prox 26,181,000 tons compared to the prox 25,810,000 tons produced in the like period last year.
April 2018 Manufacturing Business Outlook Survey Reports Continued Manufacturing Growth
The Federal Reserve Bank of Philadelphia released its April 2018 Manufacturing Business Outlook Survey which reports continued growth for the region’s manufacturing sector. Although the survey’s indexes for general activity and employment improved slightly, the indexes for new orders and shipments moderated. The survey’s future indexes, measuring expectations for the next six months, reflected continued optimism.
Conference Board Leading Economic Index (LEI) Increased 0.3 Percent in March
The Conference Board Leading Economic Index (LEI) for the USA increased 0.3 percent in March following a 0.7 percent February increase and a 0.8 percent January increase.
The US LEI increased in March and while the monthly gain is slower than in previous months, its six month growth rate increased further and points to solid growth in the US economy for the rest of the year,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board.
Former First Lady Barbara Bush Has Died
On Tuesday we lost Barbara Bush, age 92, wife of George H.W. Bush, 41st President of the USA, and mother of George W. Bush, 43rd President of the USA. Classy lady. Rest in peace.
How do creeps like Comey and McCabe get appointed to such high positions in our intelligence community? They are both self-serving liars. McCabe is NOT entitled to his pension and Comey should be in jail. Amazing what these two morons did…for political reasons. That is a no no in a non-partisan government agency.
Talk about politically correct: Starbucks has a corporate rule that use of their bathrooms is restricted to those who have made a purchase. That’s a reasonable rule and one that is in effect at many places of business.
Some time in the past week two black guys were waiting for a friend at a Starbucks, they hadn’t purchased anything, asked to use the restroom and were denied access. I do not know if they became belligerent, but the police were called and they were subsequently arrested.
Naturally, this became an issue of “racism” so the CEO of Starbucks made a public apology on national television the other day and has announced the closing of all 8,000 of their 13,000 stores the afternoon of May 29 so they can conduct anti-bias education with the employees of those stores.
What happened to the corporate rule? Is it not fair to assume this was not a racial issue at all but simply an employee doing his or her job? Why bend to charges of racism that do not exist? Why create racism where it does not exist?
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”
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.”