The U.S. Supreme Court on Monday refused to hear a case seeking to deny the administration's power to impose more than $4 billion in steel tariffs, turning away an appeal that challenged its use of national security as the legal justification for the United States' trade agenda. The appeal, led by a ... READ MORE >
Industrials
Philadelphia Fed’s manufacturing gauge weakens sharply in June
A key index of manufacturing activity tracked by The Federal Reserve Bank of Philadelphia's monthly survey of manufacturers fell sharply to 0.3 in June from 16.6 a month earlier, well below the consensus of 10.4. It was the index's lowest reading since February, when it hit zero. Any reading above zero ... READ MORE >
U.S. manufacturing index registers lowest level since October 2016
Manufacturing is slowing just as tariff increases are set to take hold. Continued weakness in manufacturing would exacerbate already slowing global and U.S. economic growth. Middle market businesses face additional potential supply chain disruptions if Mexico tariff threat takes hold. The ... READ MORE >
ISM manufacturing survey points toward further moderation
Those looking for stabilization in the downward trajectory of U.S. manufacturing sentiment will have to wait until mid-year. The April 2019 Institute for Supply Management Report on Business – an important gauge of U.S. factories – arrived below expectations with the top line index slowing to 52.8 from ... READ MORE >
Economic risk tied to closing the U.S.-Mexico border
A sustained hard closure of the U.S. border with Mexico would trigger a recession in both the United States and Mexico within six months. It’s important to note that the auto industry directly employs one million individuals and accounted for 0.7 percent of the real value added to the U.S. economy in ... READ MORE >
Section 232 automotive tariffs and their impact on Europe
Under section 232 of The Trade Expansion Act of 1962, The Trump administration has the authority to impose tariffs on automotive imports from the UK, the European Union and Asia. On Feb. 17, the Commerce Department delivered a report on whether the import of these products poses a threat to U.S. ... READ MORE >
Manufacturers face tight labor, rising wages in 2019
Forecasts call for manufacturing growth to increase faster than the general economy in coming years, with production estimated to rise 2.8 percent from 2018 to 2021, according to the Manufacturers Alliance for Productivity and Innovation Foundation (MAPI). This sustained growth will continue to put ... READ MORE >