Tomorrow brings the anniversary of D-Day, the invasion of Europe on the beaches of Normandy (6/6/44). I give thanks for our freedom and prayers for those brave men and women who gave there all serving our country with valor during those many dark days.
The Institute for Supply Management Report on Business for May 2015
The ISM reports economic activity in the manufacturing sector expanded in May for the 29th consecutive month and the overall economy grew for the 72nd month say the nation’s supply executives in the latest Manufacturing ISM Report on Business.”
The report was issued today (6/1/15) by Bradley J. Holcomb, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.
- The PMI registered 52.8, an increase of 1.3 percentage points over the April reading of 51.5 percent.
- The New Orders Index increased 2.3 percentage points from April
- The Production Index dropped 1.5 percentage points from April’s reading of 56 percent.
- The Employment Index rose 3.4 percentage points from April’s 48.3 percent reading.
- Inventories of raw materials increased 2 percentage points above April’s reading.
Comments from the panel carry appositive tone in terms of an improving economy, increased demand and improving flow of goods through the west coast ports. Also noted; continuing concerns over the price of the US dollar and challenges affecting markets related to oil and gas industries.”
US raw steel production
It pulled back 1.8 percent last week as mills operated at an ACUR of 71.9 percent. In the corresponding week last year mills operated at an ACUR of 77.3 percent. On the year, mills have operated at an ACUR of 72.3 percent down from 77.0 percent in the same period last year.
6/2/2015 US Department of Commerce Report on Manufacturers’ Shipments, Inventories and Orders for April 2015
- New orders for manufactured durable goods in April, down two of the last three months, decreased 1.0 percent. Transportation equipment, also down two of the last three months, led the decrease, declining 2.4 percent.
- Shipments of manufactured durable goods in April, down three of the last four months, decreased 0.2 percent.
- Inventories of manufactured durable goods in April, up twenty four of the last twenty five months, increased 0.2 percent.
The FRB Beige Book released 6/3/15
Early economic reports indicate US growth has failed to rebound strongly in the second quarter after shrinking during the first three months of the year-but you wouldn’t know it from the tone of the Federal Reserve’s beige book survey. The informal survey of anecdotal business contacts’ views is conducted by each of the central bank’s 12 regional districts and paints a fairly rosy picture of the outlook. The latest beige book report finds “overall economic activity expanded during the reporting period from early April to late May.”
~Wall Street Journal
Who is writing this crap? The Administration? Business just ain’t that great and really has not been since 2008. Period. Yes, automotive is still humming but I don’t know of much else that is. Mining, bad. Agriculture, bad. Oil and gas, bad.
From the Precision Machined Products Association (PMPA) magazine “Production Machining” June 2015 issue:
With a reading of 48.1, the Gardner Business Index showed that the production machining industry contracted after a strong March and expanding in three of the previous four months. In April the index fell to its lowest level since September 2013. April was the fourth straight month of month-over-month contraction. The annual growth rate decelerated for the seventh consecutive month. New orders contracted after 2 months of strong growth. The production index dropped sharply, but continued to grow for the 16th month in a row.”
~Steven R. Kline, Jr., Gardner Business Media
US employers ramped up hiring last month and wage gains accelerated, suggesting the labor market is picking up momentum after slowing in the early months of 2015…the unemployment rate, which is obtained from a separate survey of US households, was 5.5% in May, up slightly from 5.4% the prior month.”
6/4/15 The Environmental Protection Agency
The EPA has concluded there is NO evidence hydraulic fracturing has had a “widespread, systemic impact on drinking water.” The report is the government’s most comprehensive examination of fracking and drinking water. While there have been some cases involving spills and leaking wells, fracking didn’t cause extensive damage to groundwater sources, the EPA found.
The study noted there were certain “potential vulnerabilities” to water supplies that needed to be addressed, including ensuring wells are built strongly and wastewater is disposed of properly. ~WSJ
I had a feeling the Hastert issue was related to sexual impropriety. What a loser…
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.