Industrial production increased overall in February
Industrial production increased overall 0.7% in February. That is a far better outcome than the 2% gain that had been expected by the Bloomberg consensus and, while DOWNWARD REVISION TO January’s production numbers cools the soup a bit, the production numbers are still plenty hot. Attribute a big step up in manufacturing activity for that. Manufacturing output rose 0.9%, the biggest sequential gain in twelve months, as a big 8.5% increase in motor vehicle & parts production lifted the sector after back-to-back declines in the prior two months.” Wells Fargo
Housing starts jumped 11.2 % in February, rebounding from an 11.5% decline in January. Although starts increased across the board, permits did not paint as strong a picture.” Wells Fargo
March Empire State Manufacturing Survey reports activity dropped significantly
The Federal Reserve Bank of New York released it March Empire State Manufacturing Survey results and reports activity dropped significantly, according to firms responding too the survey. The headline general business conditions index fell twenty-six points. new orders and shipments declined. Delivery times and supply availability held steady, and inventories continued to grow.
US raw steel production down from previous week
In the week ending March 15, 2025, US raw steel production was 1,667,000 net tons at an ACUR of 74.9 percent, down 0.2 percent from the previous week ending March 8, 2025.
Adjusted year-to-date production through March 15, was 17,517,000 net tons at an ACUR of 74.4 percent.
No change to US drill rigs running from previous week
There were 592 drill rigs running in the US the week of 3/14, no change from the previous week, but down 37 rigs from one year ago. Meanwhile, Canadian drillers had 199 rigs running last week, down 35 rigs from the previous week, down 8 rigs from one year ago.
On Wednesday, the federal Reserve kept interest rates the same, at 4.25%-4.50%
Existing home sales beat expectations and rose 4.2% in February. The rebound from January’s decline indicates poor weather may have temporarily depressed buying at the start of the year. Wells Fargo
March 2025 Manufacturing Business Outlook Survey reports manufacturing activity in the region expanded overall but was less widespread
The Federal Reserve Bank of Philadelphia released its March 2025 Manufacturing Business Outlook Survey results and reports manufacturing activity in the region expanded overall but was less widespread, according to firms responding to the survey. The survey’s indicators for current general activity, new orders, and shipments declined but remained positive. the survey’s future indicators suggest less widespread expectations for growth over the next six months.
Leading Economic Index (LEI) weakened for a third-straight month
The Conference Board released its February report on GDP and reports the Leading Economic Index (LEI) weakened for a third-straight month, dropping 0.3%, dragged by weakening consumer confidence amid uncertain federal policies.
News Headlines
After 289 days aboard the International Space Station (a trip originally scheduled for eight days) our astronauts returned home yesterday, thanks to Elon Musk and SpaceX. Biden left them stranded for political reason. What a loser. I am glad they are safely home with their families and friends.
The Vernal Equinox was Thursday…IT IS SPRING!
By now you must realize how dysfunctional the left-wing zealots, they are vandalizing Tesla showrooms, burning and vandalizing Tesla automobiles, they do not care who the owner is. Their current hatred for Elon Musk, nearly matches their hatred for Donald Trump. Both of these men were once darlings of the left, but both have been brought to the light of conservative values, common sense and the desire to do what is right and good for this country. Good, I hope they keep it up for the American people are far from stupid, they see all of this for what it is, and will vote accordingly.
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.”
