This morning in metals news: nonfarm business sector labor productivity jumped by 5.4% in the first quarter; the CME Group said it will permanently close the trading pits it shut down last March; and US energy production dipped last year. More MetalMiner is available on LinkedIn. US nonfarm labor productivity shoots up in Q1 2021 […]
Category: Macroeconomics
This Morning in Metals: US economy grows 6.4% in Q1 2021
This morning in metals news: US real GDP grew at an annual rate of 6.4% in Q1 2021; meanwhile, U.S. Steel reported its Q1 financial results; and, lastly, Intel cited the “explosive growth” in semiconductors in its Q1 2021 financial report. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. […]
Europe’s automakers rush to go electric
Most carmakers had a pretty torrid first half of 2020, with factories disrupted, show rooms closed and consumers bunkered down in their homes. Sales plummeted across Europe and North America. However, the second half of last year and, particularly, the first quarter of this year have seen carmakers’ prospects come roaring back. The move to […]
Housing starts drop by 10.3% in frigid February; Fed holds off on rate hike
After what was a frigid month across the country, February housing starts declined in the US. February saw a historic chill in Texas and elsewhere in the region — in addition to inclement weather in other, traditionally colder parts of the country — that led to many losing power and a decline in natural gas […]
This Morning in Metals: DOC finds dumping, subsidization of common alloy aluminum sheet
This morning in metals news: the Department of Commerce said imports of common alloy aluminum sheet from 18 countries are being dumped and benefiting from subsidies; Federal Reserve Governor Lael Brainard this week commented on the US’s economic outlook; and the copper price has retraced somewhat over the last week. DOC makes common alloy aluminum […]
This Morning in Metals: Gold price, US dollar retrace while Bitcoin surges
This morning in metals news: the gold price continues to slide; the Federal Reserve released its latest Monetary Policy Report; and the record freeze in Texas is disrupting natural gas production. Gold price weakens After surging to around $2,035 per ounce in August, the gold price for the most part trended in a band between […]
US GDP rises 4.0%, short of expectations, to close tumultuous 2020
US GDP finished 2020 on a positive note, rising by 4.0% in the fourth quarter, the Bureau of Economic Analysis reported today. US GDP gains — but falls short of expectations With that said, US GDP gains in Q4 fell short of expectations. The country continued to deal with the impact of the coronavirus pandemic […]
Indian economy devastated by coronavirus pandemic is showing signs of recovery
India came in for considerable criticism over its reaction to the spread of the coronavirus pandemic in the first wave. Locking down the economy almost overnight and trapping millions of migrant workers from returning home, only to then release them a week or two later to flood out into rural areas and spread the virus, […]
A view of the U.S. presidential election from across the pond
As poll workers continue to count the final votes in the U.S. presidential election, it looks like we have a Biden victory — not by the landslide he and many of his supporters had hoped for, but a victory nevertheless. There will be ongoing legal arguments, demands for recounts, and claims of fraud. However, the […]
The market’s reaction to the U.S. presidential election results so far
Markets are sharing wider society’s caution today, as early results show the U.S. presidential election result is in the balance. Against some predictions, the incumbent has held on to Florida and thereby kept himself firmly in the running. Other swing states may not see results for 24 or even 48 hours. Postal votes received before […]
