The RSM US Manufacturing Outlook Index dropped by two standard deviations below normal in May as firms reported decreases in both current shipments and new orders. This is consistent with the modest year-over-year decline in industrial production. Our index is based on surveys of manufacturing firms ... READ MORE >
Industrials
This week in energy: FERC cybersecurity investment rule, oil prices, Canada wildfires
In this week’s energy industry roundup, we examine a new federal rule that allows certain electric utilities to recover cybersecurity investment costs, the bearish oil market and the impact of wildfires in Canada. New FERC rule for rate-based recovery of cybersecurity investments The Federal Energy ... READ MORE >
Business spending on equipment falls more than expected
Orders and shipments of core capital goods that exclude defense and aircraft spending, a key measure of private business investment, both fell by 0.4% in March, the Commerce Department reported on Wednesday. It is now clear that the nonresidential component of private investment has caught up ... READ MORE >
Activity at top 10 U.S. ports signals softening economy; manufacturing activity contracts
In another sign that the American economy is slowing, February inbound container shipments at the top 10 U.S. ports hit their lowest level since before the pandemic, according to the latest available port data aggregated by Bloomberg. Inbound container shipments are seasonal in nature, and February is ... READ MORE >
Jobless claims and producer prices point to a further slowdown
New data on the labor market and inflation released on Thursday continued to show a slowing economy as it heads to a likely recession. For the Federal Reserve, that data bolstered the case that it will pause its rate increases after one final hike in this cycle on May 3. Whether to have that ... READ MORE >
This week in energy: Surprise OPEC+ cuts, energy project legislation, electricity demand growth
In this week's energy industry roundup, we examine the impact and aftermath of the OPEC+ surprise cut announcement, a proposed bill to expedite energy projects, and transmission constraints on electricity demand growth. Aftermath of surprise OPEC+ cuts A surprise announcement from OPEC+ on Sunday that ... READ MORE >
Job openings and factory orders soften amid recession concerns
Job openings and factory orders came in lower than expected on Tuesday, continuing to show signs of softening economic demand that should work in the Federal Reserve's favor in fighting inflation. When the new data is combined with softer economic data released recently, the risk of a ... READ MORE >
Manufacturing continues to show recession signs
The manufacturing sector contracted for the fourth month in a row in March, according to new data released by the Institute for Supply Management on Monday. The pace of the decline accelerated as the impact of steep interest rate hikes continued to weigh on overall demand. It has become evident that ... READ MORE >
RSM US Manufacturing Outlook Index: Slowdown continues
There was little sign of improvement in U.S. manufacturing among the five areas surveyed in march by the Federal Reserve banks. According to the RSM US Manufacturing Outlook Index based on those surveys, manufacturing activity remains at 1.8 standard deviations below normal. That implies a ... READ MORE >
Core business investment orders inched up in February
Durable goods orders in February fell for the second month in a row, driven mostly by declines in orders for automobiles, aircraft and defense. Total orders dropped by 1% while autos, aircraft and defense orders were down by 0.9%, 6.6% and 7.4%, respectively, according to Commerce Department ... READ MORE >