June 2019

Employment by Industry

Figure 1 shows manufacturing and construction employment on the same chart from 2005 to present. Both manufacturing and construction employment are showing growth, construction is growing at a faster rate on a percentage basis. Legislation is also being put in place to encourage construction employment. For example, in exchange for the tax relief, the legislation [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index increased by 1.4 points month on month, (+2.5 %m/m) to 56.9 in May. The indexes remain strong in 2019, down 2.9% 12MMA y/y. The ISM nonmanufacturing survey measures the rate and direction of change in activity in nonmanufacturing industries. Surveys are sent to more than 370 purchasing [...]

Construction Put-in-Place, (CPIP)

Total U.S. construction spending continued to perform well in April 2019, especially in the state and local sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that April’s twelve month total, (12MT) construction expenditures grew by 4.5% year on year (y/y), to $1305.4 billion (B). On a 12MT basis, private expenditures advanced 2.8% [...]

ISM Manufacturing Index

The Institute of Supply Management’s Index moved down 0.7 points on month, (m/m) to 52.1 for May 2019. This value is an encouraging sign for the manufacturing sector.  The index has been greater than 50, (>50 = expansion) for thirty-three consecutive months. The new orders sub-index scored a 52.7.  Overall, the ISM manufacturing index is strong [...]