Expectations Index Rose in May

The Expectations Index rose about six points in May. The Conference Board Consumer Confidence Index also rose in May. The Present Situation Index-based on consumers’ assessment of current business and labor market conditions, increased by a few points.

Confidence improved in May after three consecutive monthly declines,” said Dana M. Peterson, Chief Economist at the Conference Board. “Consumers’ assessment of current business conditions was slightly less positive than last month.”

CFNAI Decreased in April

The Chicago Fed National Activity Index (CFNAI) decreased to -0.23 in April from -0.04 in March. Three of the four broad categories of indicators used to construct the index decreased from March, and all four categories made negative contributions in April. The index’s three-month moving average, CFNAI-MA3, increased to +0.01 in April from -0.17 in March.

Fifth District Survey of Manufacturing Activity for May 2024 Reports Manufacturing Activity Improved but Remained Sluggish in May

The Federal Reserve Bank of Richmond released its Fifth District Survey of Manufacturing Activity for May 2024 and reports manufacturing activity improved but remained sluggish in May, according to those responding to the survey. Firms’ optimism about local business conditions was nearly unchanged, as the index decreased slightly from 6 to 3. On balance, firms continued to report declining backlogs and vendor lead times in May, as those indexes both decreased and remained negative.

Real gross domestic product (GDP) increased at an annual rate of 1.3 percent in the first quarter of 2024, according to the “second” estimate of first quarter growth.

Texas Manufacturing Survey Reports Manufacturing Activity Edged Down in May

The Federal Reserve Bank of Dallas released its Texas Manufacturing Survey results and reports manufacturing activity edged down in May. The production index, a key measure of state manufacturing conditions, slipped from 4.8 to -2.8. the negative reading signals a slight decline in output from April. Perceptions of broader business conditions continued to worsen in May.

US Raw Steel Production Up from Previous Week

In the week ending May 25, 2024, US raw steel production was 1,735,000 net tons at an ACUR of 78.1 percent, up 0.4 percent from the previous week ending May 18, 2024. Adjusted year-to-date production through May 25, 2024, was 35,437,000 net tons at an ACUR of 76.5 percent, down 2.7 percent from the same period last year.

The Chicago Business Barometer Descended 3.5 Points to 37.9 in April

The Chicago Business Barometer descended 3.5 points to 37.9 in April. This is the fifth consecutive monthly fall, pushing the index to its lowest levels since November 2022.
Four out of five subcomponents fell, with the move driven lower significantly by drops in New Orders, Production, Employment, and to a lesser extent, Supplier Deliveries, while Order Backlogs offset some of this differentiation.

News Headlines

I wake up Friday morning, and President Trump has been found guilty on all 34 charges against him. It doesn’t matter that no specific crime has been charged. All the Democrats wanted was a conviction, and this will be their mantra until the election; “He is a convicted felon…”

This is not the normal behavior of the United States, this is the behavior of a third world communist country, where your political opponents are persecuted, often murdered. All of those out there who think this is all fine and good, are you aware of the consequences of such an action? Do you believe you and your family are safe in this atmosphere of corruption? I implore you to think long and hard about it. They are not after Mr. Trump, as he boldly and correctly states; they are after you and me, our parents and siblings, our children, our grandchildren. We, as a free people, must not accept this degradation of our Constitution, and the rights which are guaranteed by this document.

This whole situation has been politically motivated by the Marxist Democrats and their unending quest to maintain power and control of the people. We must vote all these crooks out of their lofty positions in OUR government. Never forget that they work for YOU, it is not the other way around. It is our civic responsibility to vote and let our views be heard by those in power. We are on the precipice of the loss of freedom which has been earned by the lives and blood of our warriors through two and a half centuries. The United States has been the beacon of freedom for all through the centuries, we cannot surrender to this evil which has polluted our society.

“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.”