January 2017

U.S. Housing Starts and Permits


Total housing starts were reported at a seasonally adjusted annual rate of 1,135,000 for the month of December, on a 3MMA basis, down 6.7% from the November rate. Single family hoiusing starts declined 9.1 % 3MMA y/y, while multi-family fell 1.6% 3MMA y/y, (Table 1). Table 1 Figure 1 presents the long term [...]

U.S. Housing Starts and Permits2017-01-26T20:52:53+00:00

Non-Residential Construction Starts


Square foot starts present a non-residential construction (NRC), market that was down in December on both 3 month y/y (-3.7%) and 12 month y/y (-6.7%) metrics, (Table 1). Table 1 Looked at in expenditure terms, starts posts positive growth on both time comparisons, +22.5%, 3 months y/y and +4.4%, 12 months y/y, (Table [...]

Non-Residential Construction Starts2017-01-26T20:41:48+00:00

Industrial Construction Starts


January US starts posted $189.9 Bn, down 9.7%, 12 months y/y. On a 3 month year on year basis starts rose 7.7%, pushing momentum to a positive 17.5%. In total of the 12 project categories, 9 recorded growth on a 3 month year on year (y/y) basis, while only six saw growth on 12 month [...]

Industrial Construction Starts2017-01-26T22:17:43+00:00

Producer Price Indexes of Steel & Competing Materials


The Producer Price Index (PPI) is a weighted index of prices measured at the wholesale, or producer level. A monthly release from the Bureau of Labor Statistics (BLS), the PPI shows trends within the wholesale markets, manufacturing industries and commodities markets. Figure 1 Figure 1 presents a historic review of all commodities from [...]

Producer Price Indexes of Steel & Competing Materials2017-01-19T21:21:12+00:00

US and Canadian Service Center Shipments


December U.S. service center total shipments continued to decline falling 3.1% on a three month moving average basis, (3MMA) y/y and were down 14.4%, 3MMA compared to two years ago. Pipe and tube shipments fell the most, down 13.4%, while sheet products were flat y/y, but down 10.5% vs. two years ago (Table 1). Overall [...]

US and Canadian Service Center Shipments2017-01-19T18:22:07+00:00

US Industrial Production & Mfg Capacity Utilization


This data is from the Federal Reserve and is seasonally adjusted. The index is based on the May 2012 level being defined as 100. The Industrial Production Index had an all-time high of 106.70 in November 2014 and had trended down until June this year when it reversed the slide and began a gradual rebound, [...]

US Industrial Production & Mfg Capacity Utilization2017-01-19T18:19:13+00:00

Architectural Billings Index


At Gerdau we follow the ABI because it is a leading economic indicator that offers a glimpse into the future of non-residential construction spending of approximately 12 months. The national ABI jumped 5.3 points in December to 55.9. In an encouraging trend for future construction activity, the ABI has been north of 50 for three [...]

Architectural Billings Index2017-01-19T18:08:20+00:00

US Consumer Credit


We monitor consumer spending because history has shown that increased consumer spending (which is approximately 70% of GDP), translates into increased steel consumption (and vice versa). Figure 1 Consumer spending surprised to the upside in November after posting a disappointing October. Non-revolving credit led a strong surge to $24.5 Bn, exceeding analysts’ expectations [...]

US Consumer Credit2017-01-17T15:52:33+00:00

Net Job Creation by Industry


In December net job creation was 156,000 which was down from 204,000 in November. October was revised down by 7,000 and November up by 46,000. Using a three month moving average, (3MMA), the result for December was 165,000 down from 182,000 in November. Figure 1 Figure 1 shows the 3MMA of the number [...]

Net Job Creation by Industry2017-01-17T15:52:51+00:00