Economy
June 30, 2020
Written by Sandy Williams
The Chicago Business Barometer rose to 36.6 in June as economic activity returned with the easing of COVID-19 restrictions, said MNI Indicators..
The production index jumped 10.1 points from May as demand strengthened by 33.8 percent. Order backlogs were at a two-month high, gaining five points in June. Inventories plummeted 24.7 percent after emerging from contraction in May.
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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).