European Manufacturing Activity Improved Slightly in February
In a tiny bump, the Markit Flash Eurozone Manufacturing PMI moved up slightly from 51.0 in January to 51.1 in February. This very modest growth in manufacturing activity in February occurred in new order, output and exports, while the pace of employment growth was unchanged. France (down from 49.1 to 47.0) and Germany (unchanged at 50.9) continued to move in an opposite direction of the rest of Europe and the European economy remains more sluggish than desired. To read more, visit here.
EPA Greenhouse Gas Regulation Cost Estimates Continue to Rise
A majority of Americans believe we need to act when it comes to climate change, but are unwilling to pay a single dollar more to accommodate the EPA's new requirements. Originally, the new EPA regulations were estimated to cost Americans about the price of a gallon of milk a month. Now, compounding evidence suggests that the regulations will cost significantly more, which is a problem considering the public is not willing to even pay the original estimated monthly cost. To read more, visit here.
January Manufacturing Production Marginally Higher than December
According to the Federal Reserve Board, manufacturing production edged up 0.2 percent in January - an improvement from December's flat numbers. Despite the sector being soft in both December and January, manufacturing production has risen 5.6 percent over the past 12 months. While this figure was buoyed due to a number of winter storms in January 2014, the year-over-year pace last month was still 4.3 percent, illustrating decent overall growth in manufacturing output last year. To read more, visit here.
Weekly Economic Report Summary
Last week saw a bit of a shift from the recent discussion of the strength of the United States compared to many of its trading partners as Europe witnessed better-than-expected economic growth and the United States experienced disappointing consumer spending and sentiment. Underlying trends still show manufacturers mostly upbeat about future demand and production, but the economic activity in the United States has been softer in some areas than hoped as 2015 begins. To read more, visit here.