Enjoy a great Thanksgiving Holiday…pray for peace These editorials have appeared annually in the Wall Street Journal since 1961 THE DESOLATE WILDERNESS Here beginneth the chronicle of those memorable circumstances of the year 1620 as recorded by Nathaniel Morton, keeper of the records of Plymouth Colony, based on the account of William Bradford, sometime governor [...]
US LEI Rose Again in October 2020 The US LEI rose again in October with widespread improvements. The index has been decelerating in recent months which suggests growth may moderate in the final months of 2020. The Conference Board Leading Economic Index (LEI) for the US increased 0.7 percent in October to 108.2 (2016= 100), [...]
300 US Drill Rigs Running Last Week There were 300 US drill rigs running last week, up four from the prior week, down 517 from one year ago. Canadian drilling remained the same at 86 running rigs, down 54 from one year ago. US Raw Steel Production at ACUR 71.1% In the week ending November [...]
Overall Economy Notching Six Consecutive Months Growth With the overall economy notching six consecutive months growth, the Institute for Supply Management (ISM) October 2020 Manufacturing ISM Report on Business reports economic activity in the manufacturing sector grew in October. The October Manufacturing PMI registered 59.3 percent, up 3.9 percentage points from September and the highest [...]
US Economy Recovered Significantly in Q3 The US economy recovered significantly Q3 quarter as Gross Domestic Product (GDP) increased 7.4% over the quarter, an annual rate of 33.1%, recovering about two-thirds of the ground lost as the pandemic took control. Consumer Confidence fell by less than half a point in October Durable goods order in [...]
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 [...]
