Economy
August 30, 2017
Written by Tim Triplett
“Hurricane Harvey was an incredibly expensive, economy-changing event. The impact will be staggering,” said economist Chris Kuehl of Armada Corporate Intelligence, speaking at Steel Market Update’s Steel Summit Conference this week in Atlanta.
Perhaps 10 percent of Houston’s population could be permanently displaced, creating a future labor shortage. “Companies may not get those workers back,” he said.
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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).