We have a lot of room to kill inflation We have a lot of room to kill inflation. On Wednesday the Federal Reserve Bank raised interest rates by one-half point bringing the cost of money for car loans, mortgages etc. to 0.75%. US Raw Steel Production Down from Previous Week In the week ending April [...]
Durable Goods Orders Rose in March Durable goods orders rose in March after a sharp decline at the end of winter. Excluding defense, orders of durable goods rose 1.2% Real GDP DECREASED in Q1 2022 Real gross domestic Product (GDP) DECREASED at an annualized rate of 1.4 percent in Q1 2022, following a pandemic related [...]
Consumer Confidence Increased Slightly in March Consumer confidence increased slightly in March, according to the Conference Board Consumer Confidence Index, after a decrease in February. LEI Increased 1.9 Percent from September 2021 to March 2022 The Conference Board Leading Economic Index (LEI) for the US increased 0.3 percent in March, following a 0.6 percent increase [...]
Small businesses increasingly pessimistic about the economic outlook and future business conditions. Small businesses increasingly pessimistic about the economic outlook and future business conditions. The National Federation of Independent Business (NFIB) Small Business Optimism Index declined in March from February. US Raw Steel Production Up from Previous Week In the week ending April 9, 2022, [...]
673 US Drill Rigs Running, Up 243 from One Year Ago 673 drill rigs running in the US last week, up 3 rigs from the prior count, were up 243 rigs from one year ago. Meanwhile, Canadian drillers shut down 16 rigs, to 124 which is up 55 rigs from one year ago. US Raw Steel [...]
US Drill Rigs Running No Change from Previous Week US drill rigs running no change from the previous week. There were 663 drill rigs running, up 252 rigs from one year ago. In Canada, drillers shut down 30 rigs, to 206, up 84 rigs from one year ago. US Raw Steel Production Up 0.3% from Previous [...]
Short-term Interest Rates Increased Short-term interest rates increased by 25 basis points by the Federal Reserve Bank. It is probably not enough to tame the inflation. It also said there would likely be six more rate increases in 2022. Hold on! LEI Rose in February The Leading Economic Index (LEI) for the US, rose 0.3% [...]
The Annualized Inflation Rate Rose The annualized inflation rate rose to 7.9 percent, as the Consumer Price Index for All Urban Consumers, increased 0.8 percent in February after rising 0.6 percent in January. Let’s go Brandon! US Raw Steel Production Up from Previous Week In the week ending March 5, 2022 US raw steel production [...]
Unemployment Rate at 3.8% The unemployment rate at 3.8% is a fresh low for the US economy, which added 678,000 jobs in February, continuing at an impressive pace. The labor force participation rate ticked higher, but the jobs market continues to tighten with the unemployment rate falling. Chicago Business Barometer Weakened for the First Time [...]
February 2022 Manufacturing Outlook Survey Reports Continued Expansion The February 2022 Manufacturing Outlook Survey reports continued expansion in manufacturing activity in the month according to firms responding to the survey put out by Federal Reserve Bank of Philadelphia. US Raw Steel Production Down from Previous Week In the week ending February 12, 2022, US raw [...]
