Construction Backlog Indicator Fell in September

The Associated Builders and Contractors' Construction Backlog Indicator (CBI) for September 2019 saw a setback. The indicator fell by one-tenth of a month or by 0.8% since August 2019. The CBI now sits at 8.9 months. ABC Chief Economist Anirban Basu said the trends in the most recent CBI will "remain in place." The spending in the public constructi...
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Sales in US-Made Manufacturing Fall

U.S.-made goods dipped in sales during the month of September, according to a recent article by Reuters. General manufacturing spending also saw a decrease in September. Factory goods orders fell by 0.6% and orders fell 0.3% year-over-year, according to the Commerce Department. Shipments of manufactured goods fell by 0.2% as well. According to Reut...
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Federal Reserve Cuts Interest Rates for Third Time in 2019

The Federal Reserve cut interest rates Oct. 30, according to Reuters. This decision marks the third cut of 2019 as the cut is meant to offset the fallout from the global trade war. The policy rate will drop by a quarter of a percentage point, reaching a target range of 1.5% and 1.75%. Moving forward, the Fed said it will "monitor the implicati...
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Trump Continues to Pressure the Fed Amid US, China Trade Wars

The pressure continues for the Federal Reserve to lower interest rates, according to Reuters. President Trump on Aug. 21 said on Twitter he remains frustrated with Chair of the Federal Reserve Jerome Powell, stating the U.S. should not "count on him!" Trump also said the policies were infringing on U.S. growth and the trade deals with China. These ...
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Progress on US and Chinese Trade Talks Remains Slow

Agriculture is the most recent point of contention between the U.S. and China, with President Trump off-put by China's "lack of agricultural concessions" and requests to ease up on trade restrictions, according to a recent article by Bloomberg. Trump said China did not boost their purchases of American farm products, despite the fact that President...
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Steel Industry Representatives Challenge Tariffs

Representatives from the steel industry went up to the Hill this week to challenge President Trump's tariffs on global steel imports, but the U.S. Supreme Court refused to hear the case, according to Supply Chain Dive. The representatives from the steel industry argued the tariffs are unconstitutional. Since the Supreme Court refused the ...
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