June 2019

U.S. Service Center Shipments


On a three month moving average, (3MMA) basis, May total Carbon Steel shipments averaged 143,800 tons per day, compared to 155,400 tons per day in May 2018 (-7.5%) year on year, (y/y). Figure 1 shows percentage change results for shipments, daily intake and inventory level. In all cases the percentage change references 3MMA y/y. For [...]

U.S. Service Center Shipments2019-06-26T18:18:46+00:00

U.S. Steel Capacity Utilization


The total tonnage for the week ending June 22nd was 1,873 million tons, (Mt) at a capacity utilization rate of 80.5%, the twenty-third consecutive week where the utilization rate is over 80%. For the first 25 weeks of 2018, total tonnage output was 44,079Mt, at an average capacity utilization rate of 75.4%. For the same [...]

U.S. Steel Capacity Utilization2019-06-25T17:44:26+00:00

U.S. Industrial Production


The May Industrial production, (IP) report came in at 109.56, gaining 0.4% month on month, (m/m). On a year on year, (y/y) basis, the IP index was up 2.6%. Overall capacity utilization rose 0.4 percentage point, while manufacturing capacity utilization rose 0.9 percentage point. Utility production rose 2.1% in May, bouncing back from a sharp [...]

U.S. Industrial Production2019-06-25T18:23:08+00:00

U.S. Manufacturing Capacity Utilization


Manufacturing capacity utilization (MCU), scored a 75.7% in May, up 0.08% month on month, (m/m), its first monthly increase since January. On a year on year (y/y) comparison the MCU was a modest 0.8%. Manufacturing fundamentals continue to improve. Both the U.S. and global economy are strengthening and at the same time, the dollar has [...]

U.S. Manufacturing Capacity Utilization2019-06-25T18:13:19+00:00

Advanced Durable Goods Orders


The U.S. Census Bureau reported new orders for durable goods orders declined 2.1% month on month, (m/m) in April. The slowdown was driven by exports and a buildup of inventories. Orders for non-defense capital goods excluding aircraft dropped 0.9% last month as demand weakened almost across the board, the Commerce Department said The Advance Report [...]

Advanced Durable Goods Orders2019-06-25T18:38:28+00:00

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 [...]

Employment by Industry2019-06-25T18:57:35+00:00

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 [...]

ISM Non-Manufacturing Index2019-06-24T20:53:04+00:00

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% [...]

Construction Put-in-Place, (CPIP)2019-07-17T16:27:32+00:00

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 [...]

ISM Manufacturing Index2019-06-24T20:43:21+00:00