May 2017

Consumer Credit

Total consumer spending increased by $16.4 billion (B), in March well above the $15.0 billion consensus expectation. This was 6.1% increase year on year and encouraging news that consumers are confident and increasing their spending.  Revolving credit increased by $1.96 B, +5.35% y/y while installment loans expanded by $14.47 B, +6.4%. The economy continues to [...]

Dodge Momentum Index

The Dodge momentum index three month moving average (3MMA) rolled back up 2.6 points or 1.8% in April. The index has advanced in five of the previous six months. The index predicts non-residential construction activity approximately 12 months out. The 3MMA institutional sub-index fell 1.6% after reaching its all-time high of 138.3 in March. The [...]

U.S. Steel Merchant February Final and April License Imports

Merchant final imports to the US in February were down 10.6% year to date (YTD), year on year (y/y), totaling 84,529 tons for the two months ending February 2017. On a month over month comparison, Merchant imports were down 0.9%. Figure 1 charts the largest exporting countries in rank order on a YTD basis through [...]