August 2016 Manufacturing Business Outlook Survey Suggests “Positive But Tenuous” Growth

The Federal Reserve Bank of Philadelphia released its August 2016 Manufacturing Business Outlook Survey and reports firms responding to the survey suggest “positive but tenuous” growth.

The diffusion index for current general activity moved from a negative reading to a marginally positive reading while the indicators for new orders and employment suggested continued weakness in business conditions.

Of the current broad indicators, the diffusion index for shipments recorded the strongest reading. The respondents were confident about future growth as their forecast for future activity showed notable improvement.

US LEI Increased in July Indicating Moderate Growth

The Conference Board Leading Economic Index for the US increased 0.4 percent in July to 124.3 following a 0.3 percent June increase. The numbers suggest moderate growth should continue through the end of 2016.

New York State Business Activity Declined Slightly in August

The Federal Reserve Bank of New York released its Empire State Manufacturing Survey for August 2016 and reports business activity in New York State declined slightly in the month. Forward looking indicators suggested the firms expected conditions to improve over the next six months although the level of optimism diminished for a second consecutive month.

US Raw Steel Production Dropped 0.7% Last Week

US raw steel production dropped 0.7 percent last week as mills operated at an ACUR of 72.1 percent. In the corresponding week last year mills operated at an ACUR of 72.2 percent. Thus far this year mills have produced prox 56,000,000 tons, down slightly from the prox 56,500,000 tons produced in the like period last year.

News on the Steel Front:

Special Bar Quality (SBQ) steel prices have edged down in line with cheaper prime scrap, according to market participants. US supply of both hot rolled and cold finished bar remains ample as lead times remain short at four to six weeks.

Service centers have not re-stocked in a big way, keeping inventories lean as they eye scrap tags closely…service centers are buying “just enough” to support their main customers, knowing that lead times are short and that US bar mills have some floor inventory.”

“US steel distributors saw shipment and inventory levels tumble in July as weak end-market demand heightened the impacts of typical seasonal sluggishness…July is typically one of the worst months of the year, but business stank in July. “There was no pickup,” a distributor source said. Steel product shipments in July were down 13.8 from June and were 15.2 percent lower than the same month last year.”


Rioting in Milwaukee

They have been rioting and looting in Milwaukee, Wisconsin for a couple of days now because a police officer shot and killed a black man last weekend. Just a couple of things: the police officer himself is a black man and the dead thug was firing a semi-automatic weapon at him.

Now I ask you, what is the sense in this violence? There is none to be made. Yes, Milwaukee is in a democratic death spiral. There are no jobs, there are too many families raising children without a father figure, the school system sucks ass and the crime rate is through the roof. Her citizens are rightly in despair and they are getting no help from the Democrats they foolishly keep voting into office. The officeholders are doing fine, by the way.

Clinton Global Initiative Changes

This is real cute:

Former president Bill Clinton and his daughter, Chelsea, plan to stop raising money for the Clinton Foundation and turn over operations to independent parties if Democratic candidate Hillary Clinton is elected president…the Clintons also plan to discontinue after this year, one of the foundation’s signature events, the Clinton Global Initiative…next month’s annual meeting aims to draw commitments from corporations, philanthropies and others…The Clinton Foundation also would no longer accept foreign and corporate donations if Mrs. Clinton were elected president.”

Isn’t this just dandy? So, if she is elected and becomes the most powerful person in the world they will no longer accept donations from those for whom they do favors? This is just total bullshit.

She will most certainly become a much wealthier person should she become president and really would not need the Foundation to gather loads of money anyway, it will just come to them ( for as we know, they are quite open to doing favors in exchange for cash).

I mean, the FBI is investigating the Clinton Foundation, numerous facts exist to support the allegations that they do political favors for cash. For example it has been reported that 60 companies that lobbied the State Department gave more than $26 million to the Clinton Foundation while she was secretary of state and at least 44 of those companies also participated in Clinton Global Initiative projects valued at $3.2 billion.

Even those who support her know she is a liar and a crook. Unfortunately there are an overabundance of low information, or just blind to the truth voters in our country who do not seem to care a bit about this. It sickens me.


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.

Remember these tidbits as the election cycle grinds on:

  • Fast & Furious-Americans killed by guns supplied to the drug cartels…by the Department of Justice-Eric Holder presiding. The president was clueless. No one held accountable
  • Benghazi: Four Americans killed in an assault described as the result of a viral video. This was proved to be a false narrative. This was in fact, a planned act of terror. The president was clueless. No one even knows where he was as this went down. No one held accountable
  • “At this point, what difference does it make?” Hillary Clinton as Secretary of State
  • The IRS targeting of conservative groups and individuals. No one held accountable, Lois Lerner is on paid vacation and has refused to testify. The president was clueless. No one held accountable
  • Hillary using a private server for correspondence during her term as Secretary of State against the orders of the president. She thought “it would be more convenient…” Though the records were due when she left office, they were not submitted, subpoenas were issued, which she ignored for two years. Finally, she released 30,000 of some 60,000 alleged emails then she deleted the rest of the emails and will NOT turn over the server for investigation.