Economy
March 31, 2020
Written by Sandy Williams
The Chicago Business Barometer remained in contraction for the ninth month, declining 1.1 points in March to 47.8.
New orders fell 7.9 percent while production slipped back into contraction. Order backlogs rose to their highest level since December 2019.
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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).