Category: Economy

Following a strong February, US housing starts eased through March to a seven-month low, according to the most recent data from the US Census Bureau.

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

Global steel demand will reach roughly 1.793 million metric tons (1.976 million short tons) this year, an increase of 1.7% over 2023, the World Steel Association (worldsteel) said in its updated Short Range Outlook report. The gain will come after a 0.5% contraction in steel demand in 2023. Demand is forecasted to increase another 1.2% […]

The Dodge Momentum Index (DMI) fell again in March, marking one of the lowest index readings of the past two years according to Dodge Construction Network data released Friday.

US construction spending in February was mostly steady from January but showed significant gains from last year.

Following 16 months of contraction, US manufacturing activity expanded in March according to the latest report from the Institute for Supply Management (ISM).

The Chicago Business Barometer slipped to a 10-month low in March, according to Market News International (MNI) and the Institute for Supply Management (ISM). The March Purchasing Managers Index (PMI) reading eased 2.6 points to 41.4, marking the fourth consecutive month it has been in contracting territory.

The Architecture Billings Index (ABI) indicated architecture firm billings continue to decline through February, according to the American Institute of Architects (AIA) and Deltek. While the latest reading does not indicate improving business conditions, it is one of the higher measures seen in recent months, suggesting the recent slowdown may be diminishing.

New York state manufacturing activity slipped deeper into negative territory this month, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

The construction sector added 23,000 jobs in February, boosted by nonresidential, according to the Associated General Contractors of America (AGC).

The Dodge Momentum Index (DMI) slipped in February from the previous month, according to the latest Dodge Construction Network (DCN) data.

Economic activity across the US increased marginally from early January through the end of February, according to the latest Beige Book report from the US Federal Reserve.

Consumer confidence in the US declined in February after accelerating to a two-year high the month prior, The Conference Board reported. Results came in amid ongoing concerns regarding the US economy. The headline Consumer Confidence Index declined to 106.7 in February from a downwardly revised 110.9 in January. The index, which measures Americans’ assessment of […]

US manufacturing activity continued to slump in February, contracting for the 16 consecutive month, according to the latest report from the Institute for Supply Management.

The American Iron and Steel Institute (AISI) is urging Congress to strengthen US trade laws. Specifically, Kevin Dempsey, president and CEO of AISI, asked Congress to incorporate the provisions of the Leveling the Playing Field 2.0 Act in any trade legislation that moves forward this year.

Metalformers expressed increased optimism about business activity this month, according to the February 2024 Precision Metalforming Association (PMA) Business Conditions Report.

The US already had strict regulations on air-quality standards for particulate matter, but they are going to get even tighter.

The Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a slight uptick in January but continued to signal soft conditions. The index inched up from 45.4 in December to 46.2 in January. While the index has moved higher consecutively each month since October, it remains in contraction territory. […]

Manufacturing activity in New York State continued to shrink this month, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

US housing starts fell for the second consecutive month in January, according to the most recent data from the US Census Bureau.

Consumer confidence in the US rose in January and accelerated to a two-year high, The Conference Board reported. Results came amid slacking inflation and expectations that the Federal Reserve could soon start cutting interest rates. The headline Consumer Confidence Index rose to 114.8 in January from a downwardly revised 108.0 in December. The index, which […]

Rising geopolitical tensions may threaten stability, while other factors like a climbing stock market and growing government investment point to one thing in the economy: it’s complicated. “It’s an interesting contradiction out there,” said Dr. Walter Kemmsies, managing partner of The Kemmsies Group, at the Tampa Steel Conference this week. In his keynote speech on […]

US housing starts moved lower in December, even as single-family production topped the million mark for the second straight month, according to the most recent data from the US Census Bureau.

Metalformers remain positive about business prospects for the first quarter of 2024, boosted by reported growth in January.

The LME three-month price was broadly stable on the morning of Jan. 19 and was last seen trading at $2,170 per metric ton (mt). The $2,200/mt level is now acting as a resistance it seems, but the break of the previous support level has not inspired a sell-off, at least not for now.  

While there was little change in economic activity since its last update, the Federal Reserve reported declines in manufacturing in nearly all districts in its January Beige Book update.

New York state saw manufacturing shrink in January, reaching its lowest reading since the depths of the pandemic in early 2020, according to the latest Empire State Manufacturing Survey.

The LME three-month price was moving down again on the morning of Jan. 12 and was last seen trading at $2,215 per metric ton (mt). We expect a test of the $2,200/mt support to be imminent. A break would be bearish as it could mean a complete reversal of the gains seen in December, although we still estimate that as being unlikely.

The Dodge Momentum Index (DMI) gained traction in December thanks to improved commercial conditions, according to the latest Dodge Construction Network (DCN) data.

An increase in residential construction brought total construction spending up by 0.4% in November, according to a report from the Associated General Contractors of America (AGC). The uptick offsets a slowdown in public spending.