Highest level in over four years
Highest level in over four years, the headline general business conditions index climbed nine points to 19.6. The Federal Reserve Bank of New York released its Empire State Manufacturing Business Outlook Survey results for May 2026 and reports business activity grew strongly in New York State, according to firms responding to the survey. New orders and shipments increased considerably for the second consecutive month. Unfilled orders rose, delivery times lengthened substantially and supply availability worsened somewhat.
Looking ahead, firms grew more optimistic about the outlook.
US raw steel production up from previous week
In the week ending May 9, 2026, US raw steel production was 1,880,000 net tons at an ACUR of 81.4 percent, up 1.3 percent from the previous week ending May 2, 2026.
Adjusted YTD production through May 9, 2026 was 33,285,000 net tons at an ACUR of 78.1 percent.
Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent on a seasonally adjusted basis in April after rising 0.9 percent in March, the United States Bureau of Labor Statistics reported Tuesday. Over the last twelve months the all items index increased 3.8 percent before seasonal adjustment.
This is just under 2X the fed target of 2%.
US drill rigs running up from previous count
There were 551 drill rigs running in the US on May 15, up three rigs from the previous count on May 8. Meanwhile, Canadian drillers remained at 124 active rigs which is up three rigs from one year ago.
News Headlines
The President has proposed suspending the federal gasoline tax, it must be passed by the Congress and that should not be a problem, even though Democrats hate everything he does, it would not look good for them in the mid-terms.
So, Karen Bass, the mayor of Los Angeles, says “you can’t succeed without teeth,” so she wants to give false teeth to the meth addicts in her city. She won’t do anything about their addiction, that will continue, but they will have new teeth to rot away. Democrats. more wasted taxpayer money.
Kevin Warsh has been confirmed as the new Chair of the Federal Reserve Bank
President Trump spent two days in China this week, holding serious talks with Xi Xing Ping about many subjects including trade, rare earth minerals, Iran, and who knows what else. It will all come out in the wash. Trump has an immovable positive attitude, so he has painted a nice picture, I hope it is all true.
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.”
