Manufacturers/End Users
November 5, 2024
Written by David Schollaert
Construction spending in the US picked up in September and maintained a notable year-over-year (y/y) rise.
The US Census Bureau estimated construction spending to be $2,148.8 billion in September on a seasonally adjusted annual rate (SAAR). While just 0.1% above August’s revised spending rate, it was 4.6% higher than spending in September 2023.
Farming equipment manufacturer John Deere announced it will call back more than 375 employees to work across its Quad Cities factory operations.
The Greenbrier Companies received orders for 3,400 new railcars with an aggregate value of ~$600 million during its fiscal fourth quarter ended Aug. 31.
Worthington Enterprises reported higher fiscal first-quarter sales and earnings while citing rapidly growing data center demand and continued tightness in the steel market.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.