Economy
July 16, 2019
Written by Sandy Williams
Manufacturing conditions improved in New York State in July, says the Federal Reserve Bank of New York. The latest Empire State Manufacturing Survey general business index rebounded from contraction to gain 13 points and register 4.3.
Shipments increased during the month while new orders were essentially flat. Indices for unfilled orders and inventories moved lower and delivery times lengthened.
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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).