The dollar Broad Index posted a reading of 103.0419 for November, up 1.1% month on month. On a twelve moving average, year on year, (y/y) comparison, the Broad Index was up 6.4%. Table 1 lists the values of the U.S. dollar measured in the currency of the 17 steel trading nations that we follow as [...]
The Institute for Supply Management’s non-manufacturing composite index increased by 0.4 of a point month on month, (m/m) to a strong 60.7 in November. The indexes remain strong in 2018, up 3.0% 3MMA y/y. The advance in the index points to continued growth in the nonmanufacturing segment as the fundamentals remain strong for the sector. [...]
The Baltic Dry Index (BDI), for November tumbled 353 points to 1,192 month on month (m/m), a 22.8% decline. Changes on a m/m comparison can be exhibit wild swings as was the case in November. When looked at on a three month moving average, (3MMA) comparison the BDI fell 11.0% m/m to 1,395. On a [...]
The Institute of Supply Management’s Index moved up 1.6 points month on month, (m/m) to 59.3 for November 2018. This continues the trend of the index being greater than 50, (>50 = expansion), now for 27 consecutive months. The new orders sub-index scored a 62.1. Overall, the ISM manufacturing index is strong and fundamentals remain favorable [...]
The total tonnage for the week ending December 1st was 1,906 million tons, (Mt) at a capacity utilization rate of 81.3%, which is the seventh consecutive month where the utilization has been over 80%. For the year of 2018, total tonnage output was 84,992Mt, at an average capacity utilization rate of 77.3%. In 2017, the [...]
Total U.S. construction spending continued to perform well in October, especially in the state and local sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that October’s twelve month total, (12MT) construction expenditures grew by 6.2% year on year (y/y), to $1296.5 billion (B). On a 12MT basis, private expenditures advanced 5.3% y/y, [...]
