491 US Drill Rigs Running Last Week There were 491 US drill rigs running in the US last week, up 3 rigs from the previous week, up 244 rigs from 1 year ago. Canada added 3 rigs last week, to 156, up 109 rigs from 1 year ago. US Raw Steel Production Down From Previous [...]
The US economy added 943,000 jobs in July and the unemployment rate dropped to 5.4 percent. Manufacturing Sector Grew in July for 14th Consecutive Month The Institute for Supply Management (ISM) released its July 2021 Manufacturing ISM Report on Business and reports economic activity in the manufacturing sector grew in July with the overall economy [...]
Demand is Strong According to the Chicago Business Barometer Demand is strong according to the Chicago Business Barometer, which jumped to 73.4 in July, a two-month high and the second highest pandemic era reading. Demand is strong but firms remain concerned about supply chain disruptions and rising prices. Among the five main indicators, Production saw [...]
Year-Over-Year Real GDP Growth Forecast Year-over-year real GDP growth forecast by the Conference Board is 6.6 percent for 2021 and a healthy 3.8 percent for 2022. The Conference Board Leading Economic Index (LEI) for the US increased by 0.7 percent in June. June’s gain in the US LEI was broad-based and, despite negative contributions [...]
New York Business Activity Grew at a Record-Setting Pace New York business activity grew at a record-setting pace in July. The Federal Reserve Bank of New York's Empire State Manufacturing Survey for July 2021 reports the state's outstanding growth, according to firms responding to the survey. The headline general business conditions index shot up 26 [...]
US Drill Rigs Running Up 212 From a Year Ago US drill rigs running up 212 from one year ago. There were 475 drill rigs running in the US last week, up 5 rigs from the previous week. Canadian drillers added 10 rigs to 136, up 118 rigs from 1 year ago. US Raw Steel [...]
US Economy Added 850000 Jobs June 2021 The US economy added 850,000 jobs in June and the jobless rate was 5.9 percent. Overall Economy Grew for 13th Consecutive Month The Institute for Supply Management (ISM) released its June 2021 Manufacturing ISM Report on Business and reports economic activity in the manufacturing sector grew in June, [...]
US Drill Rigs Running Up 204 Rigs from One Year Ago Up 204 rigs from one year ago, there were 470 drill rigs running in the US last week, up 9 rigs from the previous week. Meanwhile, Canadian drillers added 24 rigs to total 117 in operation, up 100 rigs from one year ago. The [...]
Manufacturing Business Outlook Indicators Remain Elevated Manufacturing business outlook indicators remain elevated, according to the Federal Reserve Bank of Philadelphia Manufacturing Business Outlook Survey for June 2021. It reports manufacturing activity continued to grow, according to firms responding to the survey. The survey's indicators for general activity, new orders and shipments remain at elevated levels. [...]
A Large Punishment for Manufacturers A large punishment for manufacturers is described by the changes in the various subcomponents, per the Institute for Supply Management (ISM), which came in at 61.2 in May. It's a once-in-a-lifetime demand surge but long wait times, supply shortages and staffing challenges are preventing factories from ramping up production. US [...]
