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 [...]
Optimism Rose for First Time Since December 2021 Optimism rose for first time since December 2021, according to the National Federation of Independent Business (NFIB) Small Business Optimism Index. July Consumer Price Index at 8.5 Percent The Consumer Price Index (CPI) released Wednesday, pegs inflation for July at 8.5 percent, a reduction, yes, but still [...]
A 26th Consecutive Month of Growth Achieved by Overall Economy A 26th consecutive month of growth in the overall economy was reported by the Institute for Supply Management (ISM) in its July 2022 Manufacturing ISM Report on Business. It further states economic activity in the manufacturing sector grew in July. The report was issued by [...]
The Fed Raised Interest Rates by .75% On Wednesday, the Fed raised interest rates by .75% On Thursday, GDP estimate for the 2nd quarter declined by 0.9%, its second consecutive quarterly decline. The CFNAI Unchanged in June 2022 The Chicago Fed National activity Index (CFNAI) was unchanged at -0.19 in June. Two of the four [...]
Recession Risks Grow as US LEI Continues to Decline Recession risks grow, as the Conference Board Leading Economic Index (LEI) for the US decreased by 0.8 percent in June, after declining 0.6 percent in May. The LEI was down 1.8 percent over the first half of 2022. The US LEI declined for a fourth consecutive [...]
The Small Business Optimism Index Fell in June to 89.5 The Small Business Optimism Index Fell in June to 89.5, down 3.6 points, according to the National Federation of Independent Business (NFIB). The index has been trending lower for a year now and June’s drop brought the index below the low hit in April 2020 [...]
Contraction in New Orders Affects Manufacturing Index A contraction in new orders led the manufacturing index to slide to its lowest level in two years, according to the Institute for Supply Management (ISM). Details of the report demonstrate slower activity in the manufacturing sector along with supply problems which appear to be easing. US Raw [...]
Celebrate Independence Day This weekend we celebrate Independence Day. This weekend, honor your country, proudly raise our Flag, teach your children the greatness of what America can and should be-as she was for centuries, a beacon of freedom for so many people. Please take some time to reflect on what that means because I fear [...]
US LEI fell again in May The US LEI fell again in May, fueled by tumbling stock prices, a slowdown in housing construction, and gloomier consumer expectations,” said Ataman Ozyildirim, Senior Director of economic Research at the Conference Board. “The index is still near a historic high, but the US LEI suggests weaker economic activity [...]
Texas Production Index Signals Acceleration in May 2022 The Texas production index signals acceleration in growth from April. The index, a key measure of state manufacturing conditions, rose from 10.8 to 18.8. The Federal Reserve Bank of Dallas May 2022 Texas Manufacturing Outlook Survey reports Texas factory activity expanded at a fairly robust pace in May, [...]
