Economy
December 2, 2019
Written by Sandy Williams
Durable goods orders rose 0.6 percent in October, beating economists’ expectations of a 1 percent or more decline. Most of the increase was due to orders for military equipment including an 18 percent increase for military aircraft.
A bright spot for the metals industry in October was a 1.8 percent increase in fabricated metal product orders.
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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).