The Federal Reserve Bank of Dallas: Texas Manufacturing Outlook Survey

Released on Monday, the Texas survey reported:

Texas factory activity declined again in June according to business executives responding to the Texas Manufacturing Outlook Survey. The Production Index, a key measure of state manufacturing conditions, rose but remained in negative territory, suggesting a fourth consecutive month of contracting output. The capacity utilization index and the shipments index both increased but remain in negative territory, indicating continued contraction but the upward movement suggests the pace of decline has slowed…Perceptions of broader business conditions worsened further, although not as sharply in June as in prior months.”

The Midwest Economy Index 6/30/15

Led by a slight decrease in service sector growth, the Midwest Economy Index (MEI) moved down to +0.17 in May from +0.28 in April…May’s value for the relative MEI indicates that Midwest economic growth was somewhat higher than would typically be suggested by the growth rate of the national economy.”

The Chicago Business Barometer 6/30

The Chicago Business Barometer recovered half of May’s loss in June but stayed in contraction for the second consecutive month with activity weakening further in Q2 from an already depressed Q1…. Aside from Orders and Output, there were few positives in the June Chicago Report. Amid weak demand in recent months, the Employment Indicator fell to the lowest level since November 2009, standing below 50 for the second month in a row and pointing to a slowdown in the pace of hiring.”

The Institute for Supply Management June 2015 Manufacturing ISM Report on Business 7/01/15

“Economic activity in the manufacturing sector expanded in June for the 30th consecutive month and the overall economy grew for the 73rd consecutive month, say the nation’s supply executives in the latest report.

The June PMI registered 53.5 percent, an increase of 0.7 percentage point over the May reading of 52.8.”

Bradley J. Holcomb, CPSM, CPSD
Chair of the Institute for Supply Management Manufacturing Business Survey Committee

Of the 18 manufacturing industries, 11 are reporting growth in June. Four industries reported contraction in June, they are: Petroleum and Coal products, Primary Metals, Plastics and Rubber products and Machinery. Yuk…

US Raw Sreel Production

US raw steel production rose 0.4 percent last week from the previous week as mills operated at an ACUR of 73.3 percent. In the corresponding week last year mills operated at an ACUR of 78.5 percent. Thus far this year mills have produced prox 44 million tons of steel at an ACUR of 72.5 percent, down from the prox 47 million tons produced in the same period last year, at an ACUR of 77.3 percent.

Restoring Diplomatic Relations

The US and Cuba have reached an agreement to restore diplomatic relations and reopen embassies in each other’s capitals…Cuban cigars will soon be on the shelves of your favorite tobacconist…yippee!

The Iran Deadline

June 30, the current deadline, arrived on Tuesday….has anyone heard about the details of the Iran nuclear deal? Right, because there aren’t any. All we have done is give in, give in, and give in. There can be no worthwhile deal. Why? Because Iran is a state sponsor of terrorism worldwide. They lie, they cheat, they murder. We should not even be talking to these clowns about a possible nuclear agreement. We should be demanding compliance…

6/30/15 11:23am

Iran and the six-power group it is negotiating with over tehran’s nuclear program effectively extended the deadline for the talks until July 7 in an effort to reach a final nuclear agreement, the US State Department said.”

What difference does it make? They will NOT keep their part of the agreement and have already taken so many of our demands off the table it is not in our best interests to pursue an agreement with these creeps.

Have a super Independence Day weekend…raise the Stars & Stripes

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.