US Economy Expansion in Q4 Expected US economy expansion in Q4 is expected, but at a slower rate. The Conference Board released its September 2020 Leading Economic Index (LEI) and reports the index increased by .07 percentage point, following increases in August and July, driven primarily by declining unemployment claims and rising housing permits. NAHB [...]
Re-Openings Inspiring Confidence Re-openings inspiring confidence is reflected in the National Federation of Independent Business (NFIB) Small Business Optimism index, which rose 3.8 points in September. Overall confidence and hiring appear to be benefitting from re-openings finally getting underway in some of the nation's largest states. Consumer sentiment continued to improve in October, in the [...]
266 US Drill Rigs Running Last Week There were 266 US drill rigs running last week, up 5 from the previous week, down 589 rigs from 1 year ago. In Canada, there were 75 drill rigs operating, up 4 from the previous week, down 69 rigs from 1 year ago. US Raw Steel Production Up [...]
Cleveland-Cliffs Acquires ArcelorMittal USA Cleveland-Cliffs acquires ArcelorMittal USA in a substantial agreement to obtain all its operations and subsidiaries. Economic Expectations Continue to Improve Consumer confidence rose in September by the most in more than 17 years as economic expectations continue to improve. Texas Manufacturing Expands for Fourth Consecutive Month The Federal Reserve Bank of [...]
Strongest New Home Sales Since 2006 The strongest new home sales since September 2006 are at a 1.011-million-unit pace, having risen 4.8% in August, following an upwardly revised 14.7% gain in July. Conference Board LEI Reports Successive 3-Month Increases The Conference Board Leading Economic Index (LEI) for the US, released 9/18 reports an increase of [...]
Median Household Income Grew in 2019 The median household income in 2019 grew a whopping 6.8%-the largest annual increase on record, the Census Bureau reported Tuesday. While this year's government-ordered lockdowns will erase these gains in the short term at least, it's still worth highlighting how lower-income workers and minorities benefitted from faster growth and [...]
U.S. Raw Steel Production Increased 3.3% U.S. raw steel production increased in the week ending 9/5/20. US raw steel production was 1,428,000 net tons at an ACUR of 63.7 percent, an increase of 3.3 percent from the previous week. 9/11 Nineteenth Anniversary This week ends with the sobering anniversary of the terrorist events which occurred [...]
Texas Factory Activity Expanded for the Third Straight Month Texas factory activity expanded in the month for the third straight month, following the record contraction in the spring, according to the Federal Reserve Bank of Dallas Texas Manufacturing Outlook Survey results for August. Perceptions of broader business conditions improved; the general business activity index turned [...]
Builder Confidence Rose Sharply Builder confidence rose sharply, as evidenced by the surge in new-home sales. New home sales topped expectations in July, surging 13.9% to a 901,000-unit annual rate. Sales jumped in the more affordable areas. US consumer spending rose 1.9% in July... US Drill Rigs Running Increased Last Week There were 254 drill rigs [...]
Housing Starts Surged in July Housing starts surged 22.6% in July to a 1.496 million-unit pace. Single-family starts rose 8.2 percent while apartment building skyrocketed 56.7 percent. Empire State Manufacturing Reports Edge Up The Federal Reserve Bank of New York released its Empire State Manufacturing Survey for August 2020 and reports business activity edged slightly [...]
