Barometer is its highest since January 2022
Barometer is its highest since January 2022, and back in expansionary territory after one month below the neutral 50 mark. The Chicago Business Barometer climbed 13.5 points, to 62.7 in May. This was the joint second largest monthly increase in the Barometer since its inception in February 1967 (only July 2020 saw a bigger monthly jump).
Us raw steel production down from previous week
In the week ending May 23, 2026, US raw steel production was 1,870,000 net tons at an ACUR of 81.0 percent, down 1.5 percent from the previous week. Adjusted YTD production through May 23, 2026 was 37,053,000 net tons at an ACUR of 78.5 percent.
Manufacturing activity improved in May
The Federal Reserve Bank of Richmond released its Fifth District Manufacturing Outlook Survey results and reports manufacturing activity improved in May. The composite manufacturing index increased to 13 in May from 3 in April. All three of its component indexes rose in May.
Rising cutting tool demand in Q1 is credited to machine shops landing orders for “all types of manufactured components at a pace not seen for several years.” American Machinist
Real GDP increased in 2026Q1
Real gross domestic product (GDP) increased at an annual rate of 1.6 percent in the first quarter of 2026, according to the second estimate released Thursday by the US Bureau of Economic Analysis (BEA).
In my view, the actual numbers are much higher than this but we are dealing with the skirmish in Iran, which is causing all kinds of economic turmoil, but the US economy, from what I see in my business, is strong and getting stronger. The rest of the economy will follow soon. There will be a third and final reading on Q1 next month.
US drill rigs running up from previous week
There were 562 drill rigs running in the US as of May 29, 2026, up four rigs from last count on May 22, down 1 rig from one year ago. Canadian drillers added twenty-four rigs last week, to 162, up fifty rigs from one year ago.
HAPPY 250TH BIRTHDAY, AMERICA
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I don’t know what we are doing in Iran. We keep extending and extending. It has been 47 years of lies, obfuscation, delay and we end up with nothing, or in a worse position than where we started. I know the President has brass balls and what he is doing confounds me, but I trust him to do the right thing for America. He will NOT accept a bad deal. I know we destroyed some small boats (they have no ships) in the Strait over the weekend, so you would think they know we aren’t playing games, but who knows with these people? They are insane.
On Wednesday, with drones, Iran attacked an American military installation…and paid the price. It is perplexing to me that we keep trusting these people. I do trust the president and his advisers, but my inclination is to dust this place and start over again.
Jill Biden is a liar. In an effort to sell her new books, she is now saying she was afraid Joe was having a stroke during the debate that showed his frailty to the nation. Yet, instead of rushing to his aid, she waited until he finished and then lauded him because he “answered all the questions.” They really do take us for idiots, and unfortunately, many of the electorate are just that, idiots.
Thursday afternoon 4:33 pm it is being announced that Iran (?) has agreed to a 60-day extension of the ceasefire. What? What are we doing? The president should be making demands with a clear deadline for compliance. This is just bullshit. He is summarily losing the support of the American people and our allies, I would guess. We have to finish the job. Iran will not comply with anything but what THEY want, which WE should NOT give them. this is just ridiculous.
MAKE AMERICA GREAT AGAIN
“KEEP AMERICA GREAT”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”
