Economy
May 30, 2023
New orders for manufactured durable goods increased for the second consecutive month in April, rising 1.1% from the previous month to $283.0 billion, according to the US Census Bureau.
This follows a 3.3% month-over-month (MoM) gain in March, according to Census data.
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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).