New Orders Increased for First Time in 3 Months
New Orders increased for the first time in three months, but the increase was not large enough to offset last month’s fall. Production picked up to match its three-month average but was significantly below its twelve-month average. The rise in business confidence was led by Production and New Orders.
There is no getting away from the general softness in the data. Indicators are significantly below their last year averages but are moving toward their long-term means, implying that if business conditions are not as bright as they were, they are not bad either.” Shaily Mittal, Senior Economist at MNI.
Chicago Business Barometer Suggests Softness in Business Activity
The MNI Chicago Business Barometer increased by 1.6 points to 54.2 in May from 52.6 in April. Despite the pick-up in sentiment, the survey points to softness in business activity, as indicated by the three-month moving average slipping to a two-year low. Furthermore, it is evident that business confidence in Q2 is going to be significantly weaker than Q1, which was at sluggish levels.
Overall Economy Grew for 121st Consecutive Month
The Institute for Supply Management (ISM) released its May 2019 Manufacturing ISM Report on Business and reports economic activity in the manufacturing sector expanded in May and the overall economy grew for the 121st consecutive month, say the nation’s supply executives.
The report was issued by Timothy R. Fiore, CPSM, CPM, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee:
The May PMI registered 52.1 percent, a decrease of 0.7 percentage point from the April reading of 52.8 percent. The New Orders Index increased 1 percentage point, the Production Index decreased 1 percentage point, the Employment Index increased 1.3 percentage points, the Inventories Index decreased 2.0 percentage points.
Comments from the panel reflect continued expanding business strength, but at soft levels consistent with the early-2016 expansion.”
The US Census Bureau Monthly Advance Report on Manufacturers’ Shipments, Inventories and Orders April 2019
- New orders for manufactured durable goods in April, decreased 2.1 percent. This decrease, down two of the last three months, followed a 1.7 percent March increase.
- Shipments of manufactured durable goods in April, down three of the last four months, decreased 1.6 percent following a 0.5 percent March decrease.
- Inventories of manufactured durable goods in April, up nine of the last ten months, increased 0.4 percent. This followed a 0.3 percent March increase.
US Drill Rigs Running Up 1 From Last Count
There are 984 drill rigs running in the USA, up 1 from the last count. Meanwhile Canadian drilling increased by 7 rigs to 85.
US Raw Steel Production at ACUR 81.2%
US raw steel production was 1,890,000 tons last week as mills operated at an ACUR of 81.2 percent. Thus far this year mills have produced prox 41,235,000 tons compared to the prox 38,842,000 tons produced in the like period last year.
…”one had to concern oneself with the rational, not the insane-that one had to seek that which was right, because the right answer always won-that the senseless, the wrong, the monstrously unjust could not work, could not succeed, could do nothing but defeat itself.” Ayn Rand
75th Anniversary of D-Day
Thursday June 6, 2019 the 75th anniversary of the D-Day invasion of 1944 when American and allied troops stormed the beaches of Normandy, France in the largest amphibious assault in history. This was the beginning of the end for the Nazi terror which gripped Europe.
We must always remember the bravery, courage and sacrifice made by our fallen and wounded warriors in their effort to preserve the freedoms we have enjoyed in the past and continue to enjoy today.
Unfortunately, I have recently read that educators are eliminating study of this great triumph for freedom. It is not mentioned as part of our history. In my view this is a total disgrace, as is the ongoing removal of our statues and monuments, of institutions, boulevards, buildings, named for famous Americans. If citizens have no idea of our history, of what are they to be proud? To what will they aspire? What will their children be taught of the brave men and women who have sacrificed so much?
As long as I breathe, I will not forget, I honor our veterans, our military, our history. I am very proud to be an American, the son of a WWII veteran, the son of a mother from Liverpool, England who endured the German assault and was brought back to America by my dad, went through the naturalization process and became a proud American citizen.
The eyes of the world are upon you. The hopes and prayers of liberty-loving people everywhere march with you.” General Dwight D. Eisenhower, Supreme Commander of Allied Forces.
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term, but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
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.”</blockquote