Tag: economy

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.

Metalforming manufacturers in the US and Canada expect stable to improving economic conditions in the next three months.

Primary metals, machinery, fabricated metal products, appliances and components, and transportation equipment reported growth in February.

The Chicago Business Barometer continued to rise in February, marking its second month in expansion territory, according to Market News International (MNI) and the Institute for Supply Management (ISM).

Over the last month, incoming macro data was encouraging but did not signal a wholesale change in trajectory from uneven expansion within industrials.

The final panel of last week’s Tampa Steel Conference brought together executives from three different service center, all of which were optimistic for 2026.

The latest Institute for Supply Management (ISM)’s Manufacturing PMI report found manufacturing activity expanded in January 2026. The preceding 26 consecutive months’ reports showed manufacturing activity in contraction.