Economy
November 3, 2016
Written by Sandy Williams
Accelerating production and new orders raised the JP Morgan Global Manufacturing PMI to 52.0 in October, its highest level in two years.
Manufacturing conditions improved in 22 of the 31 nations surveyed. Those nations that contracted were primarily in Asia (South Korea, Indonesia, Malaysia, Thailand, Singapore and Myanmar), said JP Morgan and IHS Markit, along with Brazil, Turkey and Greece.
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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).