Small Business Index Jumped to New All-Time High
Small business owners do not appear to have been unnerved by the recent rise in trade tensions with China or the associated sell off in the stock market. The latest quarterly Wells Fargo/Gallup Small Business Index jumped 11 points to new all-time high. Wells Fargo
Today is Pearl Harbor Day
Friday December 7, 2018 is Pearl Harbor Day, marking the anniversary of the Japanese attack on Pearl Harbor. Our thoughts and prayers go out to those lost or wounded on that day and on the days following until WWII ended.
RIP George Herbert Walker Bush 41st president of the USA
ISM November 2018 Reports Manufacturing Activity Expanded
The Institute for Supply Management (ISM) November 2018 Report on Business: Economic activity in the manufacturing sector expanded in the month and the overall economy grew for the 115th consecutive month say the nation’s supply executives.
The report was issued Monday by Timothy R. Fiore, CPSM, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee:
“The November PMI increased 1.6 percentage points from October. The New Orders Index increased 4.7%, the Production Index increased 0.7%.”
“Comments from the panel reflect continued expanding business strength.”
USA Drill Rigs Running Fell Last Week
The number of drill rigs running in the US fell by three last week, to 1076, led by Louisiana, down by four, and Canadian drilling declined by five rigs, to 199, compared to the previous week.
US Raw Steel Production Dipped Last Week
US raw steel production dipped 0.7% last week as mills operated at an ACUR of 80.7%. In the corresponding week last year mills operated at an ACUR of 73%. Thus far this year mills have produced prox 88,000,000 tons compared to the prox 83,000,000 tons produced in the like period last year.
The Monthly Advance Report on Manufacturers Shipments, Inventories and Orders for October 2018 by the Census Bureau
- New orders for manufactured durable goods in October decreased 4.4%. The decrease, down three of the last four months, followed a 0.1% September decline.
- Shipments of manufactured durable goods in October, down 0.6% following two consecutive monthly increases.
- Inventories of manufactured durable goods in October, down two of the last three months were virtually unchanged.
Labor Market Remains Strong
US employers slowed their pace of hiring in November but wage growth matched the highest rate in nearly a decade and unemployment held at a very low level, showing the labor market remains a pillar of strength even as the stock market and other economic signals flash caution. WSJ
Have a great weekend…
God bless America