Economy
September 19, 2013
Written by Sandy Williams
Housing starts in August fell short of economist expectations showing just a 0.9 percent increase to a seasonally adjusted annual rate of 891,000 units. The increase only comes after July’s rate was revised downward to 883,000 from 896,000, indicating the market may be flattening.
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To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
Mexico has decided to implement import tariffs on a number of products, among them, steel.
As mortgage rates continue to rise and housing demand slows, builder confidence is waning. A drop in July housing starts was the first in seven months.
Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).