Economy
April 30, 2020
Written by Sandy Williams
The Chicago Business Barometer dropped to its lowest level since the recession in March 2009. The April PMI plummeted 12.4 points to 35.4, said MNI Indicators.
New orders and production recorded the steepest declines, falling 21 points and 19 points, respectively. The order backlogs index eased 7.4 percent after reporting gains in February and March.
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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).