Manufacturing and Mining Produced a Solid Outturn for Industrial Production Manufacturing and mining produced a solid outturn for industrial production in January. Looking ahead, we already expected a short-term air pocket before production turns sharply higher later this year. Wells Fargo February Manufacturing Business Outlook Survey Reports Continued Growth The Federal Reserve Bank of Philadelphia [...]
US Drill Rigs Ups and Downs US drill rigs ups and downs: there were 392 drill rigs running in the US last week, up 8 rigs from the prior week, down 398 rigs from one year ago. Canadian drilling dropped by 3 rigs to 171, down 86 rigs from one year ago. US Raw Steel [...]
Manufacturing Activity Grew in January 2021 Manufacturing activity grew, according to The Institute for Supply Management (ISM) Report on Business for January 2021 and reports and the overall economy grew for the eighth consecutive month, per the nation's supply executives. The report was issued on Monday by Timothy R. Fiore, CPSM, CPM, Chair of the [...]
Improvements in Production-Related Indicators Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.52 in December from +0.31 in November. Three of the four broad categories of indicators used to construct the index made positive contributions in December. The index's 3-month moving average (CFNAI-MA3) ticked up to +0.61 in [...]
Firms Expect Growth Over Next Six Months Firms expect growth over the next six months, indicated by the high future index readings in the Federal Reserve Bank of Philadelphia January 2021 Manufacturing Business Outlook Survey. It reports manufacturing activity continued to grow, according to firms responding to the survey. The survey's current indicators for general [...]
US Raw Steel Production Up January 3.6% US raw steel production in the week ending January 9, 2021 was 1,709,000 net tons at an ACUR of 75.4 percent, up 3.6 percent from the previous week. US Drill Rigs Running Up From Prior Week There were 360 drill rigs running in the US last week, up [...]
December Manufacturing PMI Up 3.2% The December Manufacturing PMI up 3.2 percentage points from the November reading, registered 60.7 percent ... the manufacturing economy continued its recovery in December. According to the Institute for Supply Management (ISM) December 2020 ISM Report on Business, economic activity in the manufacturing sector grew in December and the overall [...]
In Hoc Anno Domini In this year of the Lord When Saul of Tarsus set out on his journey to Damascus the whole of the known world lay in bondage. There was one state, and it was Rome. There was one master for it all, and he was Tiberius Caesar. Everywhere there was civil order, [...]
US Drill Rigs Running Up from Prior Week There were 323 drill rigs running in the US last week, up three from the prior week, down 476 rigs from one year ago. Canadian drillers remained the same at 102, down 36 rigs from one year ago. US Raw Steel Production Up In the week ending [...]
Construction Spending Rose in November Total construction spending rose 1.3% in November. Despite ongoing weakness in nonresidential spending, overall construction outlays are up 3.7% over the year, thanks in large part to strengthening residential activity. Texas Manufacturing Expanded for Sixth Consecutive Month The Federal Reserve Bank of Dallas released its Texas Manufacturing Survey and reports [...]
