Economy
June 1, 2016
Written by Sandy Williams
Global manufacturing appeared stagnant in May, according to the JP Morgan Global Manufacturing PMI. The composite index was at the no change mark of 50.0, nearly the same as April’s reading of 50.1.
Production and new orders hovered just above the 50 mark while new export orders fell at one of the fastest rates in the past three 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).