Orders for durable goods rose for the seventh month in November, edging up 0.9 percent after a 1.8 percent gain in October. Transportation equipment orders gained 1.9 percent and included a 2.4 percent rebound in orders for motor vehicles and parts, according to the latest Census data. Core capital goods, orders excluding defense and aircraft, […]
U.S. industrial production, manufacturing and durable goods orders continue to improve from the coronavirus pandemic downturn earlier this year. The health of the manufacturing economy has a direct bearing on the health of the steel industry. The Industrial Production Index The IP index is a gauge of output from factories, mines and utilities. Industrial production […]
Orders for manufactured durable goods gained 1.3 percent in October, said the Commerce Department last week, marking the sixth consecutive month of growth. Orders totaled $240.8 billion following a 2.1 percent gain in September. Transportation orders, up five of the last six months, grew 1.2 percent to $77.1 billion. Orders for commercial aircraft and parts […]
U.S. auto sales closed October at a strong pace with year-over-year growth supporting the industry’s robust recovery. The seasonally adjusted annual rate for October was near 16.4 million, said Cox Automotive, and marked the second consecutive month of annual increase. Year-to-date sales are down less than 10 percent compared to 2019. Said Brian Finkelmeyer, Cox […]
Mexican steelmaker Ternium’s operating rates are approaching full capacity after strong improvement in shipments and demand in the third quarter. Total steel shipments rose 16 percent from the second quarter to 2.8 million tons. Higher finished steel shipments partially offset lower slab shipments to third parties. Pricing recovered significantly from the trough in the second […]
Orders for durable goods increased for the fifth straight month, up 1.9 percent to $237.1 billion and surpassing expectations. Transportation orders led the increase with a 4.1 percent gain. Automotive orders rose 1.5 percent in September on continued strong sales for SUV’s and light trucks. The commercial airline industry, showing losses through the pandemic, had […]
Orders for durable goods rose for the fourth consecutive month in August but at a much slower pace than July, said the Department of Commerce. New orders for manufactured goods expected to last at least three years increased 0.4 percent to $232.8 billion in August, a sharp deceleration from the 11.7 percent surge in July. The August […]
U.S. manufacturing indicators continued to show signs of improvement in July and August data as the economy recovers from the coronavirus shutdowns. The health of the manufacturing economy has a direct bearing on the health of the steel industry. The Industrial Production Index The Industrial Production (IP) index is a gauge of output from factories, […]
By CRU Analyst Kevin Bai, from CRU’s Steel Sheet Products Monitor Domestic sheet prices in China continued to reach new highs for the year alongside further improvement in underlying sheet demand in combination with limited supply. Domestic CR coil prices went up by RMB290 /t to RMB4720 /t and HDG sheet by RMB140 /t to […]
The net change in employed persons in September was 661,000. Employment gains have slowed each month since June when 4.8 million jobs were recovered. The baseline against which future comparisons will be made is February 2020, the all-time high for nonfarm employment. Figure 1 shows the total number of people employed in the nonfarm economy. […]
Orders for durable goods jumped 11.2 percent in July after rising 7.7 percent in June, posting gains for the third straight month and beating all expectations. Automotive orders drove the increase, leaping 22 percent following a robust 24 percent increase in June. Orders for core capital goods–nondefense goods excluding aircraft which are considered an indicator […]
By CRU Chief Economist Jumana Saleheen and Economist Ippolito Tarabini, from CRU’s Steel Sheet Products Monitor The economy is in the midst of a recession triggered by a health crisis. That makes this recession unusual and different. Here we examine how this recession compares to previous recessions. From that we infer key features of the […]
Steps to contain the coronavirus pandemic have taken a serious toll on industrial production, manufacturing and durable goods orders in the U.S., but the data shows signs of improvement in June. The health of the manufacturing economy has a direct bearing on the health of the steel industry. The Industrial Production Index The IP index is […]
Durable goods orders rose again in June gaining 7.3 percent as a surge in auto sales helped offset a heavy decline in commercial aircraft orders. Orders for commercial aircraft and parts plummeted an astounding 462 percent last month while orders for new trucks and cars rebounded 86 percent after pandemic shutdowns. Core capital goods, non-defense […]
Manufacturing and construction both saw positive growth in employment in June. The net change in employed persons was negative 20.8 million in April followed by positive 2.7 million in May and positive 4.8 million in June. Table 1 breaks total employment down into service and goods-producing industries and then into private and government employees. Most […]
Orders for durable goods leapt 15.8 percent to $194.4 billion in May after plunging a revised 18.1 percent in April. The increase exceeded expectations and indicates the economy is in recovery, though orders are still well below pre-COVID levels. Transportation orders surged 80.7 percent, primarily due to a rebound in automotive orders. Motor vehicle and […]
In May, manufacturing gained back 17 percent of April’s job losses, while construction gained back 47 percent, according to the latest Bureau of Labor Statistics data. The net change in employed persons was negative 20.7 million in April and positive 2.5 million in May. Table 1 breaks total employment down into service and goods-producing industries […]
Covid-19 restrictions kept consumers and businesses from buying big ticket items last month, causing manufactured durable goods orders to plummet 17.2 percent in April. The new data from the Commerce Department follows a 16.6 percent decline in orders during March. Transportation orders, always a volatile data point, plunged 47.3 percent in April. The auto industry […]
By CRU Chief Economist Jumana Saleheen, from CRU’s Global Steel Trade Service Many are still discussing what type of recession will ensue following the Covid-19 pandemic. Will it be U-, V- or L-shaped? Different people may refer to the same shape to mean different outcomes. To bring clarity to this issue, this insight sets out […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
Durable goods orders plummeted 14.4 percent in March to $213.2 billion, said the U.S. Census Bureau in its latest report. The decrease followed three consecutive months of increase and was the largest monthly decline since August 2014. Transportation equipment led the decrease in March falling 41 percent to $51.2 billion. Commercial aircraft and parts plunged […]
Orders for durable goods jumped 1.2 percent in February, but the uptick is not expected to last. Stay-at-home orders and rising unemployment due to the COVID-19 outbreak are likely to stifle demand as the economy heads into a recession. The volatile transportation category saw new orders for civilian aircraft dip 0.3 percent after a 356.7 […]
Durable goods orders edged down 0.2 percent in January as defense orders sharply decreased from their surge in December. Defense capital goods plummeted 39.8 percent after an 87.4 percent increase the previous month, the Census Bureau reported today. Orders for transportation slid 2.2 percent in January after gaining 8.8 percent in December. Excluding the volatile […]
Based on our analysis of 10 economic indicators, the decline in manufacturing slowed in February’s data. This report summarizes 10 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications, and therefore will be […]
Durable goods orders rose 2.4 percent in December supported by a surge in defense spending. Defense capital goods increased 90.2 percent last month primarily due to orders for defense aircraft, the Census Bureau reported. The uptick in December orders follows a sharp decline in November of 3.1 percent, revised downward from 2.1 percent. Excluding the […]
Steel Market Update is pleased to share this Premium content with Executive-level members. For more information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Based on Steel Market Update’s analysis of 10 indicators in January, the decline in U.S. manufacturing continues. This report summarizes 10 data streams that describe the state of U.S. […]
Orders of durable goods in November declined at their sharpest rate since May, falling 2.0 percent after a downward revision to October’s data. Economists were expecting orders to rebound by more than 1.0 percent in November. A boost in transportation orders was anticipated due to the ending of the GM strike. Orders for autos and […]
Based on Steel Market Update’s analysis of 10 indicators, there is a faint glow in the manufacturing environment. This report summarizes 10 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We have reported on most of these separately in our Steel Market Update publications, and therefore […]
Durable goods orders rose 0.6 percent in October, beating economists’ expectations of a 1 percent or more decline. Most of the increase was due to orders for military equipment including an 18 percent increase for military aircraft. A bright spot for the metals industry in October was a 1.8 percent increase in fabricated metal product […]
Steel Market Update is please to share this Premium content with Executive-level subscribers. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Manufacturing output shows contraction in nine of the 10 indicators analyzed by Steel Market Update, which helps to explain the current weakness in steel demand in some sectors. This report […]