The July Industrial production, (IP) report decreased slightly (0.2%) MoM for the month at 109.2. On a year on year, (y/y) basis, the IP index was up 1.2%. Industrial production is a pure measure of output, untainted by the effects of price swings, in the industrial part of the U.S. economy. Every month, the Federal [...]
The total number of operating rigs in the U.S. the week as of August 16th was 770 oil and 165 gas (totaling 935). In percentage terms, on a month on month, (m/m) basis, oil rigs were down 1.2% and gas down 5.2%. On a year on year, (y/y) comparison, rigs were down 11.4% for oil [...]
Manufacturing capacity utilization (MCU), scored a 75.4% in July, down 0.6% month on month (m/m), and down 0.4% year on year (y/y) Figure 1, charts capacity utilization from 2000 to present. The MCU index is currently in the green zone which is considered to be ideal. After a long run at the bottom of the [...]
The total tonnage for the week ending August 10th was 1,867 million tons, (Mt) at a capacity utilization rate of 80.2%. The year to date tonnage output is 60,710 Mt, at an average capacity utilization rate of 81.4%. In 2018, the same output total was 56,769 Mt at 75.9%. Figure 1 shows production on the [...]
The Institute of Supply Management’s Index moved down 0.5 points on month, (m/m) to 51.2 for July 2019. This value is an encouraging sign for the manufacturing sector. The index has been greater than 50, (>50 = expansion) for thirty-five consecutive months. The new orders sub-index scored a 50.8. Overall, the ISM manufacturing index is strong [...]
The Institute for Supply Management’s non-manufacturing composite index decreased by 1.4 points month on month, (-3.2% MoM) to 53.7 in July. The ISM nonmanufacturing survey measures the rate and direction of change in activity in nonmanufacturing industries. Surveys are sent to more than 370 purchasing managers in 17 industries. Survey responses reflect the change in [...]
Merchant final imports to the U.S. came in at 23,302 tons in June 2019, down 8.0% month over month (MoM), and up 9.5% year over year (YoY) Figure 1 further breaks down total final merchant imports from January 2018 – June 2019. When comparing year to date figures from 2018 and 2019. Figure 1 also [...]
Manufacturing capacity utilization (MCU), scored a 75.87% in June, up 0.3% month on month, (m/m), its second monthly increase for the year. On a year on year (y/y) comparison the MCU was a modest 0.44%. Manufacturing fundamentals continue to improve. Both the U.S. and global economy are strengthening and at the same time, the dollar [...]
June’s ABI national overall score of 49.1 was down 1.1 points from May’s 50.2, which is slightly under the expansionary zone, (>50). U.S. architecture firms with emphasis on commercial and industrial architect reported exceptional strong billings. Regionally activity was stronger in the West and South. The new design contracts index decreased by 0.6 of a [...]
Beam final imports came in at 33,412 tons for June 2019, down 43% Mom and up significantly YoY (120%. These include: Angles, Shapes and H Sections, Angles, Shapes and I Sections, Angles H Sections Iron and Non-Alloy Steel Hot-rolled, and Other H Sections. Figure 1 further breaks down total final beam imports from January 2018 – [...]
