Machine Tool Manufacturers Book High Totals Machine tool manufacturers booked high totals - $460.7 million worth of manufacturing technology equipment - in the latest report. It is the highest total since Q1-but long lead times and a potential economic slowdown threaten sustained order activity in the months ahead. US Raw Steel Production Down from Previous [...]

Manufacturing Sector Grew in September The manufacturing sector grew in September according to the Institute for Supply Management (ISM) September 2022 Manufacturing ISM Report on Business. The overall economy achieved a 28th consecutive month of growth. The report was issued by Timothy R. Fiore, CPSM,CPM, Chair of the Institute for Supply Management (ISM) Manufacturing Business [...]

Durable Goods Orders Declined for the Second Consecutive Month Durable goods orders declined for the second consecutive month in August, but in stripping away volatile factors, the underlying details of the report point to some stabilization in core orders. While the August durable goods report suggests new demand is not yet falling off a cliff, [...]

Third Consecutive Rate Rise Approved by Feds The third consecutive rate rise of 0.75 percentage points approved by the Federal Reserve Bank signaled additional large increases were likely. The move raises the federal funds rate to between 3 and 3.25%, a level last seen in early 2008. US Raw Steel Production Down From Previous Week [...]

Modest Gain Masks Disappointing Report A modest gain masks a disappointing report: the Consumer Price Index (CPI) increased 0.1% in August.  While headline inflation was kept in check by falling gasoline process, core inflation increased 0.6% over the month. US Raw Steel Production Up from Prior Week In the week ending 9/10/22, US raw steel [...]

The Conference Board Consumer Confidence Index increased in August, following three monthly declines. News Headlines Our southern border remains open to anyone. The Chinese are supplying the chemicals to make fentanyl to the Mexican cartels who are happy to sell it to Americans too stupid to heed the warnings. I believe somewhere near 3,000 Americans [...]

Supply/Demand Balance Supply/demand balance in manufacturing comes with appropriate tension levels between new orders and deliveries. According to the Institute for Supply Management (ISM)  Manufacturing ISM Report on Business for August 2022. Economic activity in the manufacturing sector grew in August, with the overall economy achieving a 27th consecutive month of growth, say the nation’s [...]

GDP Decreased Again GDP decreased again, at an annual rate of 0.6 percent following a 1.6 percent decrease in the first quarter, according to the “second” estimate of 2nd quarter GDP the Bureau of Economic Analysis (BEA) report. CFNAI Rose in July Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose [...]

Cutting Tool Consumption Up Cutting tool consumption up indicates a rise in manufacturing activity. US machine shops and other manufacturers consumed $175.9 million worth of cutting tools during June 2022, 0.3 % more than during May and 2.2% more than the June 2021 consumption total. The Cutting Tool Market Report tracks cutting-tool consumption as a [...]