Economy
June 1, 2021
Written by Sandy Williams
The Chicago Business Barometer reached its highest level since November 1973, coming in at 75.2 for May.
New orders jumped 7.7 points, indicating strong demand in the region. Survey respondents noted that high consumer demand may be due in part to worries about raw material shortages.
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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).