Category: Economy

Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.

Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]

US manufacturing activity contracted for the sixth consecutive month in September, according to the latest report from the Institute for Supply Management (ISM). The index has indicated a contracting industrial sector for 22 of the past 23 months.

The Chicago Business Barometer increased marginally in September but continues to indicate deteriorating business conditions.

The Conference Board reported that consumer confidence in the US dropped to one of the lowest readings of the year in September. With concerns mounting about business conditions and the labor market, the tumble was the biggest monthly decline since August 2021.

In this Premium analysis we cover oil and natural gas prices, drilling rig activity, and crude oil stock levels in North America. Energy prices and rig counts are advance indicators of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy.

The latest Federal Reserve data paints a healthy and stable manufacturing sector. Steel Market Update is pleased to share this Premium content with Executive members.

The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.

New York state saw a recovery in manufacturing activity in September, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).

Growth in the US economy continues to struggle in most districts. The Federal Reserve’s Beige Book report for August shows two-thirds of reporting districts flat or declining economic activity.

“The US economy, despite some near-term weakness I suggest in early 2025, is going to be strong," Dr. Anirban Basu said this week.

The Chicago Business Barometer edged up in August but remains in contraction territory, according to the latest release from Market News International (MNI) and the Institute for Supply Management (ISM).

The July AIA ABI score has recovered nearly six points over the last two months following the near four-year low recorded in May

This Premium analysis covers North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advanced indicator of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

New York state’s manufacturing activity improved in August but remained in contraction territory, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

CRU Principal Analyst Henry Hao discusses China's recently reconfigured policy agenda, which could have significant implications for the global commodity markets.

The construction sector added 25,000 jobs in July, driven by improved wage gains according to the Associated General Contractors of America (AGC).

The Chicago Business Barometer contracted further in July, according to Market News International (MNI) and the Institute for Supply Management (ISM).

Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).

The Architecture Billings Index (ABI) ticked up in June following May’s four-year low, according to the American Institute of Architects (AIA) and Deltek. While the index improved this month, it continues to indicate weak business conditions among architecture firms.

Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.

The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.

New York state saw a continued decline in manufacturing activity in July, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Commercial planning, specifically data center demand, drove the Dodge Momentum Index (DMI) higher in June. The DMI registered 198.6 last month, 10.4% above May’s revised reading of 179.9, Dodge Construction Network (DCN) reported on Tuesday. This is also a 7% boost over year-ago levels.  The DMI tracks the value of nonresidential construction projects entering the […]

US manufacturing activity contracted again in June, as reported in the latest release from the Institute for Supply Management (ISM).

The Chicago Business Barometer rebounded in June following May’s four-year low, according to Market News International (MNI) and the Institute for Supply Management (ISM).

The Index continues to indicate weak business conditions amongst architecture firms.

Uncertainty surrounding demand, the US presidential election, tariffs, and taxes is weighing on North American metalforming companies.