December 2017

U.S. Reinforcing Steel Final Imports

Rebar final imports to the US were down 20.5% year to date (YTD), year on year (y/y), totaling 1,453,213 tons for the ten months ending October 2017. October rebar imports were 79,931 tons, 20.5% lower than the YTD average of 145,321 tons. Figure 1 charts the largest exporting countries in rank order on a YTD [...]

U.S. Steel Beam Final Imports

Beam final imports to the U.S. were down 1.2% year to date (YTD), year on year (y/y), totaling 484,642 tons for the ten months ending October 2017. For the month of October, Beam imports totaled 39,357 tons down 18.8% from the YTD average of 48,464. Figure 1 charts the largest exporting countries in rank order [...]

U.S. Steel Merchant Final Imports

Merchant final imports to the U.S. were down 5.2% year to date (YTD), year on year (y/y), totaling 437,115 tons for the ten months ending October 2017. October merchant imports came in at 30,515 tons, 30.4% less than the 43,712 ton YTD average volume. Figure 1 charts the largest exporting countries in rank order on [...]

Producer Price Index for Construction

The November Bureau of Labor Statistics producer prices index, (PPI) for all commodities was up 0.5%, (m/m). On a 12 month year on year, (y/y) comparison, the all commodities PPI rose 4.4%. The all commodities index has moved higher in each of the last 12 months on a y/y basis.  Goods prices rose 1.0%. Goods [...]

Employment by Industry

The economy created 228,000 jobs in November, much higher than the year to date monthly average of 173,000. The total number of seasonally adjusted (SA), non-farm people employed in the U.S. in November was 147.241 million (M), an increase of 0.16% month on month, (m/m). Over the past 12 months the U.S. economy has added [...]

U.S. Infrastructure Spending

Referencing data from the U.S. Census Bureau’s construction put-in-place (CPIP) shows that total infrastructure spending, (not seasonally adjusted in constant 2009 dollars) decreased by 4.4% three months year on year, (y/y) to $51.8 billion, (B). On a twelve month y/y comparison, spending was down 5.0% to $166.5. Momentum was positive at 0.6%. Table 1 presents [...]

Job Turnover and Openings Report

Another excellent way to access the strength of the job market is via the monthly JOLT report from the Bureau of Labor Statistics. Job openings were little changed at 6.0 million on the last business day of October and remain near record highs. Over the month, hires increased to 5.6 million. Separations were little changed [...]

Employment: Continuous and New Jobless Claims

The U.S. labor market continues to perform well. Continuous claims as well as new claims for unemployment insurance benefits remain at historic lows. Seasonally adjusted (SA), continuous claims stood at 1.96 million, (M) on November 18th, climbing 42,000 week on week. The SA four week moving average (4WMA), was a shade higher at 1.91M, up [...]

Dodge Momentum Index

After a big decline in September, the Dodge Momentum Index has rebounded 33.9 points or 29.3% over the past two months, 15.7 points in October and 18.2 points in November. The index now boosts its highest reading ever, eclipsing the February high of 144.0. The commercial and institutional sub-indexes posted significant increases for the month. [...]

Consumer Credit

Total consumer credit increased by $20.50 billion, (B) in October, well above analysts’ expectations for the second month in row. Analyst projections for October were for $17.6B. The increase in October was the largest monthly increase since November 2016, when it rose by $24.5 billion. Non-revolving credit moved-up by $12.2B, $1.1B more than in September. [...]