Broader business conditions worsened in October
Broader business conditions worsened somewhat this month is the perception. Outlooks were stable, with the company outlook index coming in near zero in September.
The Federal Reserve Bank of Dallas released its September 22025 Texas Manufacturing Outlook Survey results and reports Texas factory activity continued to expand in September, according to business executives responding to the survey. The production index, a key measure of state manufacturing conditions, came in at 5.2, down 10 points from August and indicative of below average output growth.
Other measures of manufacturing activity also moved down this month, with most pointing to notably slower growth than in August.
US raw steel production up from the previous week
In the week ending September 27, 2025, US raw steel production was 1,770,000 net tons at an ACUR of 78.1 percent, up 0.9 percent from the previous week ending September 20, 2025. Adjusted YTD production was 66,749,000 net tons at an ACUR of 77.1 percent, up 2.2 percent from one year ago.
The Chicago Business Barometer fell 0.9 points to 40.6 in September
The index now sits 0.2 points above the June reading, having now almost fully unwound July’s 6.7 point rise. The index still has been below 50 for twenty-two consecutive months.
The Conference Board Consumer Confidence Index declined to the lowest level since April 2025
The Conference Board Consumer Confidence Index declined by 3.6 points in September to 94.2, down from 97.8 in August, declining to the lowest level since April 2025.
US drill rigs running up from previous week
There were 549 drill rigs running in the US as of September 26, 2025, up seven rigs from the previous week, down thirty-eight rigs from September 27, 2024. Canadian drillers added one rig, to 190, which is down twenty-eight rigs from September 27, 2024.
US factory activity contracted again
The Institute for Supply Management (ISM) issued is Report on Business Wednesday and reports US factory activity contracted again, albeit at a slower pace as production improved moderately, according to survey respondents, the index edged up to 49.1 in September from 48.7 in August. The reading below 50 points to contraction in activity for a seventh consecutive month, though a score above 42.3 on the index generally tallies with expansion in the wider US economy.
News Headlines
On Monday the president held a presser with Netanyahu in a bid to end the war in Gaza. It is a 20 point plan in which Hamas, lays down its arms and releases all remaining hostages, dead or alive, within 72 hours of signing the agreement. The penalty for NOT agreeing to and signing would be Israel having the president’s blessing to go into Gaza and destroy Hamas.
The federal government was shut down at 12:01 Tuesday night as the GOP refused to bend to leftist demands for over $1 Trillion in new spending. Hold Fast…
Friday was the third day of the government shutdown. Essential services will continue, anyone not being paid will get their back-pay. The leftists are demanding $1.5 trillion in additional spending for them to vote for the CR to open things back up. They want to fund free-health care for illegal aliens and they want covid subsidies extended for Obamacare. Obamacare is a scam, always has been a scam. The Democrats want the government to handle the healthcare system, and you know what happens whenever the government gets involved in business-nothing good. The Republicans need to stand pat on this. There is an opportunity to relieve the government of unnecessary expense, in the form of useless, but costly programs, and employees who are non-essential. That is a polite way of saying they do nothing productive, just suck off the government teat.
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.”
