Economy
October 10, 2019
Written by Peter Wright
Job creation in September continued at a lackluster pace and the details signal a slowdown in steel consumption.
In September, 7,000 jobs were created in construction, while manufacturing industries lost 2,000 jobs. About 114,000 jobs were created in the private sector, while government gained 22,000 positions.
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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).