First Estimate of 2022Q4 GDP at 2.9 Percent The first estimate of 2022Q4 GDP at 2.9 percent, but drilling into the numbers shows housing in a recession, taking transportation out of the equation leaves GDP growth in a negative position. US Raw Steel Production Up from Previous Week In the week ending 1/21/23, US raw [...]
Technology Equipment Highest Total Since Q1 Technology equipment highest total since Q1, with machine tool manufacturers booking $460.7 million worth of manufacturing technology equipment in the latest report. But long lead times and a potential economic slowdown threaten sustained order activity in the months ahead. US Raw Steel Production Down from Previous Week In the [...]
Optimism Rose for First Time Since December 2021 Optimism rose for first time since December 2021, according to the National Federation of Independent Business (NFIB) Small Business Optimism Index. July Consumer Price Index at 8.5 Percent The Consumer Price Index (CPI) released Wednesday, pegs inflation for July at 8.5 percent, a reduction, yes, but still [...]
A 26th Consecutive Month of Growth Achieved by Overall Economy A 26th consecutive month of growth in the overall economy was reported by the Institute for Supply Management (ISM) in its July 2022 Manufacturing ISM Report on Business. It further states economic activity in the manufacturing sector grew in July. The report was issued by [...]
The Fed Raised Interest Rates by .75% On Wednesday, the Fed raised interest rates by .75% On Thursday, GDP estimate for the 2nd quarter declined by 0.9%, its second consecutive quarterly decline. The CFNAI Unchanged in June 2022 The Chicago Fed National activity Index (CFNAI) was unchanged at -0.19 in June. Two of the four [...]
The Small Business Optimism Index Fell in June to 89.5 The Small Business Optimism Index Fell in June to 89.5, down 3.6 points, according to the National Federation of Independent Business (NFIB). The index has been trending lower for a year now and June’s drop brought the index below the low hit in April 2020 [...]
Contraction in New Orders Affects Manufacturing Index A contraction in new orders led the manufacturing index to slide to its lowest level in two years, according to the Institute for Supply Management (ISM). Details of the report demonstrate slower activity in the manufacturing sector along with supply problems which appear to be easing. US Raw [...]
Manufacturing Activity Expands Overall Manufacturing activity expands overall according to the Federal Reserve Bank of Philadelphia May 2022 Manufacturing Business Outlook Survey. It reports manufacturing activity in the region continued to expand overall this month, according to firms responding to the survey. The current general activity index declined, while the indicators for new orders and [...]
Consumer Confidence Increased Slightly in March Consumer confidence increased slightly in March, according to the Conference Board Consumer Confidence Index, after a decrease in February. LEI Increased 1.9 Percent from September 2021 to March 2022 The Conference Board Leading Economic Index (LEI) for the US increased 0.3 percent in March, following a 0.6 percent increase [...]
The Annualized Inflation Rate Rose The annualized inflation rate rose to 7.9 percent, as the Consumer Price Index for All Urban Consumers, increased 0.8 percent in February after rising 0.6 percent in January. Let’s go Brandon! US Raw Steel Production Up from Previous Week In the week ending March 5, 2022 US raw steel production [...]
