Manufacturing Activity Declines
Economic activity in the manufacturing sector expanded in April, and the overall economy grew for the 108th consecutive month, according to supply executives in the latest Manufacturing ISM® Report On Business®. Economists had forecasted the ISM index to come in at a level of 58.5, however the actual reading came weaker at 57.3. That shortfall [...]
U.S. Chemical Production Moves Higher
According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) expanded by 0.2 percent in March, following a 0.4 percent decline in February, and a 0.6 percent decline in January, as measured on a three-month moving average (3MMA) basis. During March, chemical output moved higher in all regions, except the [...]
Industrial Production Rises, Job Openings Hit Record High
Industrial production rose 1.1 percent in February following a decline of 0.3 percent in January, according to the most recent Industrial Production Report released by the Federal Reserve. Manufacturing production increased 1.2 percent in February, its largest gain since October. Mining output jumped 4.3 percent, mostly reflecting strong gains in oil and gas extraction. Pantheon [...]
Oil Demand Growth to Shift to Petrochemicals
During the next five years, strong demand for oil and gas will shift towards petrochemicals and away from motor oils and fuels according to a new report from the International Energy Agency (IEA). Below is a summary of the report from IEA. Strong global demand for The journey to 2023 is starting from a relatively [...]
