November 2017

U.S. Non-farm Employment Net Job Creation


Total non-seasonally adjusted, (NSA) nonfarm payroll employment increased by 261,000 in October up from September’s decline of 18,000. A total of 148,006,000 people were employed in non-farm jobs and the unemployment rate fell to 4.1% according to the U.S. Bureau of Labor Statistics, (BLS) report. Employment growth has averaged 169,000 per month thus far this [...]

U.S. Non-farm Employment Net Job Creation2017-11-20T16:24:06+00:00

U.S. Infrastructure Spending


Referencing data from the U.S. Census Bureau’s construction put-in-place (CPIP) shows that total infrastructure spending, (not seasonally adjusted in constant 2009 dollars) decreased by 5.3% three months year on year, (y/y) to $50.3 billion, (B). On a twelve month y/y comparison, spending was down 4.5% to $167.0B resulting in negative 0.8% momentum. Table 1 presents [...]

U.S. Infrastructure Spending2017-11-13T22:04:22+00:00

U.S. Steel Capacity Utilization


The total tonnage for the week ending November 7th was 1,715 million tons, (Mt) at a capacity utilization rate of 73.6%. On a four moving average, (4WMA) basis, tonnage output was also 1,732 Mt, at a capacity utilization rate of 74.3%. This week’s 4WMA was 7.2% higher than for the same period last year when [...]

U.S. Steel Capacity Utilization2017-11-13T22:05:12+00:00

ISM Non-Manufacturing Index


The Institute for Supply Management’s non-manufacturing composite index advanced 0.3 points in October to 60.1 to its highest level since October 2003. The result once again exceeded analysts’ expectations. The results were generally positive, as the sub-indexes of; business activity, employment, exports and inventories all improved. New orders dipped a fraction, imports were flat and [...]

ISM Non-Manufacturing Index2017-11-13T22:16:54+00:00

Employment: Continuous and New Jobless Claims


The U.S. labor market continues to perform well. Continuous claims as well as new claims for unemployment insurance benefits are at historic lows. Seasonally adjusted (SA), claims stood at 1,896,000 on October 7th, down 8,000 week on week. The non- seasonally adjusted, (NSA) four week moving average (4WMA), was a shade higher at 1,908,000, down [...]

Employment: Continuous and New Jobless Claims2017-11-13T22:09:27+00:00

Currency Report


On a three moving average, (3MMA) y/y comparison, the dollar was down 2.6% against the Broad Index. The dollar Broad Index was 98.68 on November 1st, it has traded in a range of 95.00, (9/1/2017) to 103.09, (1/12017) over the past 12 months. Figure 1 shows the track of the Broad Index from 2000 to [...]

Currency Report2017-11-13T21:30:34+00:00

ISM Manufacturing Index


The Purchasers Manger’s Index posted a score of 58.8, falling 2.1 points month on month, (m/m), lower than analysts’ expectations. Despite the decline, the index remains at elevated levels leaving the expectation of further gains in manufacturing over the next several months. The new orders index fell back 1.2 points to 63.4, its fifth month [...]

ISM Manufacturing Index2017-11-02T21:09:15+00:00

Growth of US GDP Q3 2017 (first estimate)


According to the Bureau of Economic Analysis, (BEA), U.S. real GDP remained strong in Q3 coming in at 3.0% on an annualized basis, down a tick down from the 3.1% rate recorded in Q2. The BEA noted that hurricanes disrupted data from production, agriculture, rebuilding and emergency services but did not specifically qualify the impact [...]

Growth of US GDP Q3 2017 (first estimate)2017-11-02T21:03:12+00:00

­­­Construction Put-in-Place


Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that September total construction expenditures grew by 4.0% year on year (y/y), to $1217.0 billion (B). Private expenditures advanced 6.7% y/y, while, State & Local contracted by 3.1% y/y. Non-residential CPIP increased by 3.8% y/y to $569.0B. The private sector led the way with strong [...]

­­­Construction Put-in-Place2017-11-02T20:49:58+00:00