Economy
March 17, 2016
Written by Sandy Williams
Record auto sales may be less about a stronger economy and more about auto lending practices, according to recent data by Fitch Ratings.
Auto loans given to borrowers with lower credit scores, called subprime loans, have resulted in an alarming rate of auto loan defaults. Seriously delinquent subprime car loans rose above five percent in February, said Fitch, the highest level in 20 years.
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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).