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Job and Income Growth Remain Favorable

Job and Income Growth Remain Favorable Job and income growth remain favorable. Largely ignoring other news, consumers are still focused on job and income growth. Inflation expectations remain muted, supportive of a Fed rate cut next week. Wells Fargo October Fifth District Survey of Manufacturing Activity Reports Activity Strengthened The Federal Reserve Bank of Richmond [...]

2019-10-29T16:06:40+00:00A View|

Industrial Production Surged in August

Industrial Production Surged in August Industrial production surged 0.6% in August, with widespread gains. The 0.5% rise in manufacturing alleviates concerns about the factory sector's slowdown. Wells Fargo Existing Home Sales Beat Expectations Existing home sales beat expectations, rising in August. Wells Fargo Federal Reserve Cut Interest Rates for the Second Time On Wednesday the [...]

2019-10-02T14:38:13+00:00A View|

General Business Conditions Index Largest Monthly Decline on Record

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. [...]

2019-06-24T17:07:34+00:00A View|

Leading Economic Index Increased in September

The Conference Board Leading Economic Index Increased in September  The Conference Board Leading Economic Index (LEI) for the US increased 0.5 percent in September following a 0.4 percent August increase and a 0.7 percent increase in July. The LEI improved further in September, suggesting the US business cycle remains on a strong growth trajectory heading into [...]

2018-10-30T10:42:29+00:00A View|

Index Well Above Previous Peak of March 2006

The Index Well Above Previous Peak, Reached 111.2 The Index well above its previous peak of 102.4, reached in March 2006, is now at 111.2. The Conference Board Leading Economic Index (LEI) for August 2018, released 9/20, expects the economy will continue to expand through 2018. The leading indicators are consistent with a solid growth [...]

2018-09-24T14:20:43+00:00A View|

US Raw Steel Production Notched Another Gain

US Raw Steel Production Notched Another Gain US raw steel production notched another gain last week, rising 0.5% as mills operated at an ACUR of 79.5%. In the corresponding week last year mills operated at an ACUR of 75.8%. Thus far this year mills have produced prox 59,000,000 tons compared to the prox 57,000,000 tons [...]

2018-08-27T14:45:17+00:00A View|

Industrial production rose 0.5 percent in March

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 [...]

2018-04-23T12:01:16+00:00A View|

US Steel Service Centers Double-Digit Growth in January

US Steel Service Centers Reported Double-Digit Growth in January US steel service centers reported double-digit month-on-month growth in shipments in January, along with slightly higher inventory levels, according to the latest Metals Service Center Institute (MSCI) data released 2/16/18. AMM Deere & Co. Lifts 2018 Sales Outlook Deere & Co. has lifted its sales outlook [...]

2018-02-27T19:14:20+00:00A View|

Ford Motor to Idle Production Lines

Ford Motor to Idle Production Lines Temporarily Ford Motor to idle production lines temporarily at 5 North American plants to whittle unsold inventory. WSJ Weaker Automotive Demand Predicted Special Bar Quality (SBQ) tags have moved up by some $40 per ton for October shipments in the wake of US mill hikes…September has seen a nice [...]

2017-09-23T10:13:38+00:00A View|

Special Bar Quality Prices Ticked Up

Special Bar Quality Prices Ticked Up This Month on the Back of Higher Scrap Prices Special Bar Quality prices ticked up this month on the back of higher scrap prices, with market participants seeing a steady course for the near future. AMM’s 1000 series hot-rolled bar price rose to $40.00/cwt ($800.00/per ton) on August 11. [...]

2017-08-19T08:31:25+00:00A View|