Economy
September 2, 2014
Written by Sandy Williams
The August ISM Purchasing Manufacturing Index increased 1.9 points to a reading of 59.0, its highest reading since March 2011. Survey respondents report business is strong but expressed concern over geopolitical issues.
New orders and production each increased 3.3 percent to 66.7 and 64.5, respectively. The new orders index was the highest seen since April 2004 when it registered 67.1 percent.
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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).