Economy
December 15, 2020
Written by Sandy Williams
The December Empire State Manufacturing Index indicated a loss of momentum in the New York region. The headline General Business Conditions index fell to 4.9 from November’s reading of 6.3.
“Like the prior month, manufacturing activity in New York State expanded only to a small degree in December,” said the Federal Reserve Bank of New York in its report.
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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).