US drill rigs running

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Hourly Wages Grew 3.2% from a Year Earlier

Hourly Wages Grew 3.2% from a Year Earlier Hourly wages grew 3.2% from a year earlier, as hiring in the US sprang back in March and the unemployment rate remained at a historically low level, underscoring that the labor market remains a source of strength for the economy.  Non-farm payrolls increased a seasonally adjusted 196,000 [...]

2019-04-05T20:56:08+00:00A View|

Manufacturing Conditions Improved in March

Manufacturing Conditions Improved in March The Federal Reserve Bank of Philadelphia released its March 2019 Manufacturing Business Outlook Survey and reports manufacturing conditions improved in the region this month. The indicators for general activity, new orders and shipments returned to positive territory while the employment indicator remained positive. US Raw Steel Production ACUR 82.9% In [...]

2019-03-25T17:51:32+00:00A View|

Non-Manufacturing Index Bounced Back

Non-Manufacturing Index Bounced Back 3 Points The Institute for Supply Management (ISM) Non-Manufacturing Index bounced back three points in February. The stronger-than-expected reading suggests that the service sector continues to expand at a solid rate. Wells Fargo New Home Sales Rose in December New home sales rose in December although downward revisions to the data [...]

2019-03-15T20:03:32+00:00A View|

Optimistic Future Conditions Suggested

Optimistic Future Conditions Suggested Fairly optimistic future conditions are suggested by indexes assessing the six-month outlook which improved noticeably, after slumping in January. The Federal Reserve Bank of New York Empire State Manufacturing Survey for February 2019 Reports Modest Growth The Federal Reserve Bank of New York released its Empire State Manufacturing Survey for February [...]

2019-02-18T14:58:12+00:00A View|

The USMCA Impact on US Economy

The USMCA Impact on US Economy As part of an investigation into the USMCA impact on US economy, representatives from both the American Iron & Steel Institute (AISI) and the Steel Manufacturers Association (SMA) said the proposed NAFTA replacement would provide benefits to the US steel industry and to the US economy in general. The deal encourages [...]

2018-11-26T19:33:24+00:00A View|

Consumer Confidence Index Increased Again

Consumer Confidence Index Increased Again The Conference Board Consumer Confidence Index increased again in October. The Present Situation and the Expectations Index's both increased as well. These are at levels last seen in the fall of 2000. Consumers' assessment of present-day conditions remains quite positive, primarily due to strong employment growth." Said Lynn Franco, Senior [...]

2018-11-05T19:49:50+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|

Increasing Raw Material Costs Driving SBQ Prices Up

Increasing Raw Material Costs Driving SBQ Prices Up Increasing raw material costs driving SBQ prices up by $1 per hundredweight ($20/per ton) across all grades with market participants reporting lead times for hot rolled bar that extend into early February 2019. AMM's price assessment for 1 inch round 1000 series hot rolled bar was at [...]

2018-10-22T15:40:38+00:00A View|