Manufacturing growth eased from its breakneck pace in April as supply chain bottlenecks and material shortages increase backlogs and limit production efforts. The Institute for Supply Management’s manufacturing index eased to 60.7 in April from a 38-year high of 64.7 in March. Readings above 50 indicate ... READ MORE >
Industrials
3 things to know in energy: Sustainable financing, emissions goals, Exxon’s carbon storage project
Biweekly, we highlight three things going on in the energy industry that we think you should know about. Efforts around environmental, social and governance issues are a major theme in this week’s roundup. Here’s the latest. 1. The rise of ESG and sustainable financing Financial institutions are facing ... READ MORE >
CHART OF THE DAY: Surging RSM US Manufacturing Outlook Index implies a robust recovery
For the second month in a row, manufacturers’ optimism surged in April, which implies further acceleration in overall industrial production and manufacturing conditions. This is also the second consecutive month that the RSM US Manufacturing Outlook Index stood at least 2 standard deviations above ... READ MORE >
CHART OF THE DAY: Leading economic index points to robust expansion of industrial production
There are more signs of a recovery in the works. Both industrial production and the Conference Board’s leading economic indicator reported positive year-over-year growth rates in March, recent data shows. The leading indicator index from the Federal Reserve strongly implies a return to pre-pandemic ... READ MORE >
3 things to know in energy: signs of oil upswing, petrochemicals in Canada, Biden’s jobs plan
Signs are emerging that the oil industry is on an upswing, a nascent program in Canada to stimulate growth in Alberta’s petrochemicals sector just awarded its first grant, and clean energy is a core part of Biden’s proposed American Jobs Plan. Biweekly, we round up news and analysis about three things ... READ MORE >
Clean energy infrastructure is key part of Biden’s jobs plan
Clean energy and climate change are central figures in the Biden administration’s $2 trillion American Jobs Plan infrastructure bill, released on March 31. As such, companies in the energy industry and related sectors need to pay close attention to what the bill could potentially mean for them. If ... READ MORE >
CHART OF THE DAY: Rebound in rail freight is an early sign of recovery
Intermodal rail freight is in the midst of a strong recovery—another sign that the manufacturing sector and the economy have entered the early stages of a robust expansion this year. The American Association of Railroads cautions that year-over-year comparisons are inflated by shutdowns during the ... READ MORE >
RSM recovery watch: Upgraded growth forecast and more evidence of a turn in the business cycle
There are signs that the business cycle has made a turn, bottoming out of a deep recession and moving into its next phase of sustained economic growth. As such, we have recently upgraded our forecast for 2021 real GDP growth to 7.5% (7.2% previously) on a year-over-year basis, a decline in the ... READ MORE >
CHART OF THE DAY: Fracking gives Texas and New Mexico swing-state status
Crude oil prices have unquestionably crashed through their two-year downtrend. The price of West Texas Intermediate bottomed out last April and has moved consistently higher since October, reaching $60.31 per barrel in the latest trading. This last push coincides with the reopening of more fracking ... READ MORE >
3 things to know this week in energy: Suez Canal blockage, oil field deals, carbon pricing
This past week’s blockage of the Suez Canal registered briefly in the oil market before the ship was freed, several high-profile oil field deals are expected soon, and the Supreme Court of Canada recently ruled carbon pricing constitutional. Biweekly, we round up news and analysis about three things ... READ MORE >