Consumer Credit

Total consumer credit increased by $13.10 billion, (B) in August, well off analysts’ expectations of $16B. Non-revolving credit moved-up by $7.3B, while revolving credit advanced by $5.8B. Consumer credit increased at a seasonally adjusted annual rate (SAAR), of 4.2%. Revolving credit increased at an annual rate of 7.2% percent, while nonrevolving credit increased at an [...]

Employment by Industry

For the first time in nearly seven years the U.S. economy lost jobs as the latest jobs report from the Bureau of Labor Statistics (BLS) reported that the economy shed 33,000 jobs in September. The job losses can be attributed to a sharp employment decline in food services and drinking places and below growth-trend in [...]

Currency Report

After a rapid rise between 2014 and 2016, the Broad Index, has fallen month on month, (m/m) for the eight month in a row. On a three moving average, (3MMA) y/y comparison, the dollar has fallen for seven consecutive months. A falling dollar is good news for steel companies and manufacturers that export. Figure 1 [...]

The Baltic Dry Index

The September BDI three month moving average jumped 17.3% month on month (m/m) and surged 54.5% on a year on year, (y/y) comparison. The BDI has averaged 1,022 over the past 12 months, ranging from a low of 759 to a high of 1,364. The highest level of 1,364 was this month’s reading The BDI [...]

Consumer Confidence

Consumer confidence slipped a bit in September as the Conference Board Consumer Confidence Composite fell 0.6 points to 119.8 points. Despite the slight decline, confidence remains at an elevated level. The composite index three month moving average (3MMA) stood at 120.0, up 0.8 points month on month (m/m). The Consumer Confidence Survey measures the level [...]

US Steel Mill Shipments and Domestic Consumption of Long Products

For the 12 months ending August 2017, US mill shipments of long products* increased by 2.9%. US domestic consumption of long products increased by 0.9% over the same timeframe. Import share of long products averaged 21.1% over the past 12 months, down 1.5% year on year, (y/y). Table 1 presents data for long product steel [...]