How's Manufacturing doing in the U.S. Economy Today

I thought that I'd give you a look at how manufacturing in general is looking in the U.S. today. A good friend of mine, writes monthly comments on the government reported statistics on GDP. His name is John Leyden and here's how to find him:

John Layden

Prevel Technology

317-842-6417

www.preveltech.com

jlayden@preveltech.com

The economic data in durable goods has shown additional signs of slow but stable growth.  There are no signs of a strong or rapid recovery.  However, there are still no direct signs of a double dip recession, although concerns over commercial real estate loans are getting a lot of attention.  Residential housing market remains depressed.

With all the attention focused on the health care debate you may have missed the news on energy supplies.  New mega-field oil discoveries are at an all time high, estimated and proven reserves are at an all time high and soaring, natural gas is nearing a 100 year supply (20 years is normal).  Exxon “unexpectedly” reported new discoveries at 133% of production for the 16^th consecutive year. But the US government continues to block development.

-          GDP for Q4 was 1.5% above Q3. Annualized at 5.9%.

-          Industrial production was up 1% month-to-month.

-          Durable goods new orders increased 2.6% in January.  December revised to +1.8%.

-          Durable goods shipments declined slightly; now balanced with orders.

-          Durable goods employment stabilized

-          Durable goods deliveries are still slow (average 5.5 months). Typical level is almost a third faster.

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-          Autos remained at the “new normal” (depressed) level.  Capacity utilization is flat at 51%.

-          Single family housing starts and sales declined. New single family for sale at an all time low.

-          There are calls for the resignation of the head of the UN-Intergovernmental Panel on Climate Change in the wake of manipulated and fabricated evidence.  He was the co-recipient of the Nobel Peace Prize with Al Gore.   Moves in Congress to block EPA attempt to regulate CO2 as  pollutant are surfacing.

tjos was just a summary, so if you'd like the whole GDP report just e-mail John at Preval Tech

 

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