July 2017 ONI Insight: Market Indicators

The U.S. labor market roared back in June, adding 222,000 jobs, and revisions that added 47,000 more jobs to April and May than previously reported.

U.S. manufacturing picked up in June at the fastest pace in nearly three years. According to data from the Institute for Supply Management, the factory index rose to 57.8, highest since August 2014; the new orders index increased to a three-month high of 63.5; the production index rose to 62.4, highest since February, from 57.1 the previous month.

Consumer confidence hit 118.9 in June verse the 116 estimate, according to The Conference Board. Consumer expectations improved to a nearly 16-year high. Overall, consumers anticipate the economy will continue to expand in months ahead, according to Lynn Franco, director of economic indicators at The Conference Board.

The May Architectural Billings Index score was 53.0, up from a score of 50.9 in the previous month. This score reflects an increase in design services as any score above 50 indicates an increase in billings.

The June Purchasing Managers Index (PMI®) registered 57.8%, an increase of 2.9 percentage points from the May reading of 54.9%.

Holman Head, president and COO of O’Neal Industries, parent company to OFR Metals, has been elected chairman of the Metals Service Center Institutes’ (MSCI) board. Head has served as vice chairman of MSCI and takes over for Richard A. Robinson, president of Norfolk Iron & Metal Company.

For more information, contact your local sales representative or view the “July 2017 ONI Insight Guide” below.

ONI Insight July 2017