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ISM Manufacturing Index

The November Purchasers Manger’s Index posted a score of 58.2, falling 0.5 point month on month, (m/m) and a bit lower than analysts’ expectations. Despite the decline, the index remains at elevated levels. The new orders index climbed 0.6 point to 64.0, its six month in a row over 60. The index remains in line [...]

­­­Construction Put-in-Place

Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that October total construction expenditures grew by 2.2% year on year (y/y), to $1220.9 billion (B). Private expenditures advanced 6.4% y/y, while, State & Local contracted by 2.8% y/y. Non-residential CPIP increased by 3.3% y/y to $569.6B. Construction spending came-in above expectations in October at [...]

The Baltic Dry Index

The three month moving average (3MMA), of the Baltic Dry Index (BDI), for November moved-up 7.7% to 1,434 month on month (m/m). The index has moved higher in each of the last four months, (3MMA). On a 3MMA year on year basis, (y/y), the BDI was 55.4% higher. The BDI has averaged 1,112 over the [...]

U.S. Steel Mill Shipments and Domestic Consumption of Long Products*

For the 12 months ending October 2017, U.S. mill shipments of long products increased by 6.6% year on year, (y/y). U.S. domestic consumption of long products increased by 3.2% over the same timeframe. Import share of long products averaged 20.1% over the past 12 months, down from 22.6% for the 12 months ending October 2016. [...]

Portland Cement Shipments

U.S. cement consumption fell in September to 9.32 million, (Mt) short tons from August’s strong volume of 10.27Mt. For the three months total (3MMT), ending September, national Portland cement shipments were flat year on year (y/y), basis at 28.55Mt. Six of the nine census regions posted higher 3MMT cement shipments y/y. Figure 1 shows the three [...]

Consumer Confidence

Consumer confidence soared again in November as the Conference Board Consumer Confidence Composite Index rose 3.3 points to 129.5 to reach its highest level in 17 years. This make five monthly increases in a row. The composite index three month moving average, (3MMA) measured 125.4, up 3.0 points month on month (m/m). On a year [...]

U.S. Manufacturing Capacity Utilization

Manufacturing capacity utilization advanced by 0.9 index points to reach its highest level since June 2008. Capacity utilization for manufacturing was 76.4% in October, a rate that is 2.0 percentage points below its long-run average. Utilization for durables increased 0.2 percentage point to 75.7%, while the rate for nondurables rose 1.7 percentage points to 78.1%. The operating rate [...]