Get the latest economic and market news with Market Insight from Supply Dynamics. In this month's issue, you'll discover:
- U.S. Economy: The economy is cooling, but not nearly as much as many analysts had feared. The U.S. added 164,000 jobs in July, slightly below economists' expectations of 165,000.
- Key Economic Indicators: The July Purchasing Managers Index® registered at 51.2%, a decrease of 0.5% from June. Of the 18 manufacturing industries, 9 reported growth in July, including but not limited to plastics & rubber products, computer & electronic products, and textile mills, while the other 9 industries, inclusive of fabricated metal products, primary metals, and transportation equipment, among others, reported contraction.
- Industry News: U.S. steel imports have declined. Through the first six months of the year, total imports reached 15.62 million net tons, down 12.7% on a year-over-year basis. For more industry news, including new steel market insights, check out key takeaways from LONGBOW Research's monthly report, "Steel: The Rust and Rolled Report," here.
- Trade News and Updates: President Donald Trump abruptly escalated his trade war with China, announcing last week that he would impose a 10% tariff on $300 billion in Chinese imports that aren’t yet subject to U.S. duties. The 25% tariff already imposed on $250 billion in Chinese goods will remain in effect, Trump added.
- Additional Insights for Aug 5-9: As the volley-for-volley trade war between China and the U.S. accelerates, China digs in to outlast the U.S. in their trade dispute. And, as these renewed trade hostilities between the U.S. and China reinforce fears about the world economy, copper, a barometer for the global economy, sinks to a two-year low.
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Published on August 08, 2019