Economy
October 29, 2020
Written by Peter Wright
GDP contraction in the second quarter of 2020 was the highest ever recorded at negative 31.4 percent. Growth in the third quarter was also the highest ever at positive 33.1 percent. GDP in Q3 was 2.9 percent below the first quarter result.
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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).