February 2018

U.S. Service Center Shipments

On a three month moving average, (3MMA) basis, total carbon steel shipments averaged 140.3, climbing 4.6% year on year, (y/y). Bar & shapes, plate and structural shipments led the advance, each recording double-digits percentage increases. Table 1 shows percentage change results for shipments, daily intake and inventory level. In all cases the percentage change references [...]

U.S. Infrastructure Spending

Referencing data from the U.S. Census Bureau’s construction put-in-place (CPIP) shows that infrastructure spending, (not seasonally adjusted in constant 2009 dollars) decreased by 1.1%, 12 months year on year, (y/y) to $166.6 billion, (B). On a three month y/y comparison, spending was down 14.9% to $43.4. Momentum, (3 month change minus 12 month change) was [...]

Dodge Momentum Index

The Dodge Momentum Index fell 5.1% to 136.7 in January after a significant upward revision to the December score. On a year on year, (y/y) comparison, the composite index was up 1.4%. The commercial sub-index posted a significant decrease for the month, while the institutional index declined slightly. The Dodge Momentum Index is a monthly [...]

Consumer Credit

Total consumer credit increased by $18.4 billion, (B) in December, below the consensus estimate of $20B. Non-revolving credit advanced by $13.3B while revolving credit moved-up by $5.3B. November’s consumer credit was revised upwards by $2B to $30B essentially offsetting the miss in December. On a percentage year on year basis, consumer credit increased at an [...]