The April 2017 ISM Report on Business showed economic activity in the manufacturing sector expanding for the eighth consecutive month. The PMI registered 54.8, dropping 2.4 points from March as new orders slowed. The PMI has averaged 56.4 since the beginning of the year. New orders decreased 7 points to 57.5 percent. New export orders […]
This report summarized seven data sources that describe the state of manufacturing in the US. We have reported on most of these separately in our Steel Market Update publications therefore will be brief in this summary. We don’t expect these data sources to all point in the same direction but our intention in summarizing them […]
The February ISM Report on Business indicates manufacturing activity expanded in February with the overall economy in a 93rd month of consecutive growth. The PMI was 57.7 percent, up from 56 percent in January. Looking at it from a 3 month moving average, February showed growth at 56.1, up from 54.7. Production at 62.9 gained […]
This report summarized seven data sources that describe the state of manufacturing in the US. We have reported on most of these separately in our Steel Market Update publications therefore will be brief in this summary. We don’t expect these data sources to all point in the same direction but our intention in summarizing them […]
The ISM Report on Business indicates expansion of economic activity in the U.S. manufacturing sector and a 92nd month of growth for the overall economy. The Institute for Supply Management report showed the January manufacturing PMI at 56 percent, an increase of 1.5 percentage points from December. Almost all of the components of the PMI […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. Looking back from the […]
Economic activity in the manufacturing sector grew in December according to the latest Manufacturing ISM Report on Business. Growth in the overall economy expanded for the 91st consecutive month, said ISM. The PMI for December reached 54.7, climbing 1.5 percentage points from November. The new orders index jumped 7.2 points to 60.2 from November and […]
For the first time this month we will summarize six data sources that describe the state of manufacturing in the US. We have reported on most of these six sources separately in our Steel Market Update publications therefore will be brief in this summary. We don’t expect these data sources to all point in the […]
The ISM Report on Business showed economic activity in the manufacturing sector expanding in November for the third month in a row. The PMI, which covers manufacturing activity for the entire United States, rose to 53.2 percent from 51.9 in October. New orders increased by 0.9 points to 53 percent and production rose 1.4 percentage […]
Both these data points are reported in the Federal Reserve G17 data base. The three month moving average (3MMA) of the index had an all-time high of 106.28 in December 2014 and trended down through June this year when it experienced a three month turnaround followed by a slight decline in October to 104.32. Figure […]
Both these data points are reported in the Federal Reserve G17 data base. The index had an all-time high of 106.70 in November 2014 and trended down until June this year when it experienced a two month turnaround followed by a slight decline in August to 104.402. The three month moving average (3MMA) had positive […]
This month as we contemplate the August job creation performance we will lead off with the thoughts of J.G. Collins managing director of the Stuyvesant Square Consultancy. On September 2nd he wrote: The August jobs report released this morning was full of disappointment, with just 151,000 jobs created. Higher wage occupations continued to shed jobs […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. At the end of […]
Both these data points are reported in the Federal Reserve G17 data base. The index had an all-time high of 106.70 in November 2014 and has trended down ever since. The good news is that the three month moving average (3MMA) had positive growth month/month in June for the first time since September last year. […]
Both of these data points are reported in the Federal Reserve G17 data base. The index had an all-time high of 106.40 in January 2015 and has had a mixed performance ever since. In 2016 month over month growth has been positive for two months and negative for two month. In April M/M growth on […]
The April 2016 Manufacturing ISM Report on Business reported the April PMI registered at 50.8 percent, a decrease of 1.0 percent from March. The PMI reading above 50 indicates that manufacturing activity on a national basis expanded for the second month in a row after five consecutive months of contraction. The growth in manufacturing was […]
Both these data points are reported in the Federal Reserve G17 data base. This month the historical data has been revised and we have updated our files back to January 2000. The index had an all-time high of 106.40 in January 2015 but on a month over month basis has declined for 13 of the […]
In what is hoped to be good news for the steel industry, manufacturing as measured by the latest Manufacturing ISM Report on Business expanded for the first time in six months. The PMI, or Purchasing Managers Index, increased 2.3 percentage points to register 51.8 from a reading of 49.5, indicating expansion in manufacturing and the […]
Steel prices continued their three month hike higher as SMU benchmark hot rolled price index (average) for the month was $408 per ton. Even with some minor stumbles noted in hot rolled and cold rolled during the second half of the month, our Price Momentum Indicator is still pointing toward higher prices over the next […]
Both these data points are reported in the Federal Reserve G17 data base. The index had an all-time high of 107.9108 in December 2014 but on a month over month basis has declined for nine of the last thirteen months. January was a welcome respite with an increase of 0.92 percent, which is huge, and […]
We ended the month of January on a positive note. SMU Price Momentum Indicator continues to point toward higher prices over the next 30 days. Our Sentiment Index broke through an extended downward (growing pessimism) trend and is now heading higher (more optimistic). We believe a portion of the improvement is due to flat rolled […]
The Institute of Supply Management released their December report on January 4th 2016 with a value of 48.6 which is the lowest since June 2009. An explanation of the ISM index is given at the end of this piece. After seven straight months of decline the three month moving average (3MMA) of the index had […]
Both of these data points are reported in the Federal Reserve G17 data base. The index had an all-time high of 107.9108 in November last year but on a month over month (m/m) basis has declined for nine of the first eleven months of 2015. This contrasts sharply with last year when in only one […]
The Institute of Supply Management released their November report on December 1st with a value of 48.6 which is the lowest since June 2009. An explanation of the ISM index is given at the end of this piece. After seven straight months of decline the three month moving average (3MMA) of the index had positive […]
The Bureau of Labor Statistics (BLS) analysis of non-farm employment reported on Friday that 271,000 jobs were added in October, which was well above economist’s consensus expectations. August’s gains were revised up by 17,000, but September’s were revised down by 5,000. This followed September’s result of 137,000 which was well below consensus expectations of about […]
The Institute of Supply Management released their October report on November 2nd. An explanation of the ISM index is given at the end of this piece. After seven straight months of decline the three month moving average (3MMA) of the index had positive growth on a month over month basis in June and July but […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
Both these data points are reported in the Federal Reserve G17 data base. The index had an all-time high of 107.9108 in November last year but on a month over month basis has declined for eight of the first nine months of 2015. On a year over year basis using a three month moving average […]
The Bureau of Labor Statistics (BLS) analysis of non-farm employment reported on Friday that 142,000 jobs were added in September which was well below consensus expectations of about 200,000. In addition July was revised down from 245,000 to 223,000 and August was revised down from 173,000 to 136,000. An upward revision for August had been […]
The September Institute of Supply Management (ISM) PMI registered 50.2 percent, a decrease of 0.9 percentage points from the 51.7 percent reading in August. The PMI is at its lowest point since May 2013 when it registered 50.1 percent. The three month moving average has been see-sawing since June when it gained points after seven […]