June 2019

U.S. Service Center Shipments

2019-06-26T18:18:46+00:00

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

2019-06-25T17:44:26+00:00

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

Oil and Gas Rotary Rig Counts

2019-06-25T18:48:33+00:00

Active U.S. rigs declined by 1.6% MoM and down 8.1%YoY per Baker Hughes. The total number of operating rigs in the U.S. the week as of June 21st was 967 with 789 oil rigs and 177 gas. In percentage terms, on a month on month, (m/m) basis, oil rigs were down 1.0% as gas rigs [...]

Oil and Gas Rotary Rig Counts2019-06-25T18:48:33+00:00

U.S. Industrial Production

2019-06-25T18:23:08+00:00

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

2019-06-25T18:13:19+00:00

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

2019-06-25T18:38:28+00:00

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

2019-06-25T18:57:35+00:00

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

2019-06-24T20:53:04+00:00

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)

2019-07-17T16:27:32+00:00

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

2019-06-24T20:43:21+00:00

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