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March 2018

ISM Manufacturing Index

The February Purchasers Manager’s Index moved up 1.7 points month on month, (m/m) to 60.8, its first time in the “sixties” since 2004. This value was well above consensus expectations and an encouraging sign for the manufacturing sector. The index has been greater than 50, (>50 = expansion) for 18 consecutive months. The new orders [...]

­­­Construction Put-in-Place, (CPIP):

Total U.S. construction spending continued to perform well in January, especially in the public sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that January’s twelve month total, (12MT) construction expenditures grew by 3.7% year on year (y/y), to $1232.7 billion (B). On a 12MT basis, private expenditures advanced 5.5% y/y, while, State [...]

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

For the 12 months ending January 2018, U.S. mill shipments of long products increased by 6.4% year on year, (y/y). U.S. domestic consumption of long products increased by 0.6% over the same timeframe. Import share of long products averaged 19.1% over the past 12 months, down from 22.7% for the 12 months ending January 2017. [...]

February 2018

Global Crude Steel Production and Capacity Utilization

Worldsteel Association (WSA) reports that global crude steel production totaled 138.823 million tonnes (Mt) at a capacity utilization rate, (CUR) of 70.0% in January. Production was up by 1.380 Mt month on month as the CUR was up 0.7 percentage points over December. On a year on year, (y/y) comparison, global crude steel production in [...]

Consumer Confidence

The Consumer confidence index surged 6.5 points in February according to the Conference Board. The index now stands at 130.8, its highest level in a year. Business conditions are reportedly strong and consumers feel good about the job market and the economy. On a year over year comparison, the 3MMA composite index was up 14.7 [...]