The Chicago Business Barometer slipped in October but remained in expansion for a second month. The Barometer reading from ISM Chicago and MNI Indicators came in at 55.3 in October, down 3.5 points from September but up 8.2 points from contraction in August. The Barometer is a diffusion index. Readings above 50 indicate improving business conditions. Those below 50 indicate a contraction in activity.
Architecture firms reported weaker business conditions in September, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects and Deltek. The share of firms reporting declining billings was the largest since May. The September ABI fell two and a half points from August to a four-month low of 44.7. The ABI has been in contraction for all but two months since August 2022, indicating continually weakening business conditions following the post-pandemic rally. The ABI is a typical leading indicator of nonresidential construction activity, leading construction spending by approximately 9–12 months.
The majority of buyers SMU polled this week expect prices to continue rising from here, supported by limited supply. Demand is said to be strong, with most remarking that it is stable to improving. Most say inventories are moving faster this year than last, attributed to tight supply, late mill deliveries, and generally leaner supply chains. Imports continue to appeal to many buyers on both price and availability, but lead times, tariffs, and other risks remain. Buyers are split on whether President Trump’s tariff policies are helping their businesses and whether they’re seeing manufacturing reshoring.
The Dodge Momentum Index (DMI) expanded in September, according to the most recent report from the Dodge Construction Network (DCN).
The latest Manufacturing PMI Report from the Institute for Supply Management (ISM) shows the US manufacturing sector experienced growth in September, albeit at a slightly lower pace than in the month before.
The American Institute of Architects (AIA) said slightly fewer firms reported a decline in billings in August than in July, but the headline index reading remained in contraction.
Business cooled off in Chicago in August, falling into contraction territory for the first time since April, according to the latest Chicago Business Barometer reading.
Steel buyers expect prices to keep rising in the near term and report steady-to-improving demand and lean inventories. Imports remain competitive despite risks.
“I think this will be a year of economic growth,” the economist said in his Sylvester Stallone-themed keynote discussion at the SMU Steel Summit this week in Atlanta. He estimates real GDP growth of about 2.0-2.3%.
Architecture firms reported a modest decline in billings in July, with business conditions remaining soft, according to the latest Architecture Billings Index (ABI) release. The report indicates that the broader economy remained mixed and architecture services employment declined for the fourth consecutive month.
Trinidad talks up revival plans for ex-ArcelorMittal plant.
Despite persistent pricing uncertainty, the Fed's latest Beige Book reported that the US economy continued to expand at a modest pace with labor market conditions improving.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
The US manufacturing sector expanded in June but at a slower pace than the month before, according to the Institute for Supply Management’s (ISM) latest Manufacturing PMI Report.
The Chicago Business Barometer decreased by 6.0 points to 56.7 in June.
Washington added long steel producer Antillana de Acero and state-owned mining company Geominera to its list of sanctioned companies in Cuba.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from prices, demand, and inventories to tariffs, imports, and evolving market conditions.
Global output will remain broadly flat this year, with further downgrades in Europe due to ongoing costs, regulatory, and competitive pressures, as well as a weaker economic outlook and rising inflationary pressures.
Manufacturing picked up in nine of the twelve Federal Reserve districts in May. It was one of the strongest sectors in the Fed’s June 3 Beige Book report.
There is increasing evidence that the current La Niña weather phenomenon is coming to an end, and that we are quickly moving into an El Niño cycle already in the next few months.
The Chicago Business Barometer increased in May after easing the two previous months.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
I haven’t done a deep dive into our sentiment data for a little while. And it’s timely to do so now. Why? Because we’re seeing what I’ll call the inverted yield curve of steel buyers’ sentiment.
US manufacturing activity grew for the fourth straight month in April, according to the latest report from the Institute for Supply Management (ISM). April marked the 18th month of overall economic expansion.
Market sources say 2026 could be a stronger year for plate market participants than 2025 if this week’s conditions are indicative of how the rest of the year plays out.
US manufacturing activity edged higher across most Federal Reserve Districts, with the Beige Book describing gains ranging from slight to moderate as producers navigated rising input costs and heightened geopolitical uncertainty.
Metalformers’ economic outlook for the second quarter softened in March, said the Precision Metalforming Association (PMA).
The Chicago Business Barometer eased in March, after growing repeatedly from December to February, according to MNI and ISM.
With the Iran war approaching its third week, the future course and scope of the conflict remain uncertain. Even so, while the human costs are the most immediate and tragic, the global economic implications have already proven to be significant.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.