Real GDP Increased at an Annual Rate of 3.00%
Real GDP increased at an annual rate of 3.00% in the second quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis (BEA),. The estimate is based on more complete source data than were previously available. The third and final estimate for 2nd quarter GDP will be released around this time next month.
US Raw Steel Production Declined 1.3 Percent Last Week
US raw steel production declined 1.3 percent last week as mills operated at an ACUR of 74.6%. In the corresponding week last year mills operated at an ACUR of 70.8%. Thus far this year mills have produced prox 59,000,000 tons compared to the prox 57,000,000 tons produced in the like period last year.
Texas Manufacturing Outlook Survey for August Reports Activity Essentially Flat
The Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey for August and reports activity was essentially flat in the month, according to executives responding to the survey. The production index, a key measure of state manufacturing conditions, climbed to near zero (-0.8), suggesting output held steady after five months of declines.
The Conference Board Consumer Confidence Index, which had increased in July, improved further in August.
The Midwest Economy Index (MEI) Decreased to +0.29 in July from +0.43 in June
Contributions to the July MEI from three of the four broad sectors of nonfarm business activity and three of the five Seventh Federal District states declined from June.
The MNI Chicago Business Barometer Remained Stable at July’s Level
The MNI Chicago Business Barometer remained stable at July’s level of 58.9, the joint lowest level since April. While marking the eighteenth consecutive above 50 reading, this month’s unchanged result follows July’s sharp decline that snapped a run of five straight monthly increases in sentiment. Apart from Employment, all other components of the Barometer were above their respective levels seen last August when all of them were above their January levels, pointing to robust confidence among US firms.
Prayers for Harvey Victims
Our prayers go out to our brothers and sisters in Texas and Louisiana as they suffer through the ravages of Hurricane Harvey. Houston has had about 4 feet of rain. The storm moved offshore and is expected to make landfall in Louisiana today (8/30/17)
Have a nice Labor Day holiday weekend!
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform Entitlement Reform
Business Tax Reform 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 Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS X 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.”