Jonathan Custer

U.S. Industrial Production Down 0.5% In December

January 17, 2020 by Jonathan Custer

Industrial production fell 0.3% in December, the third decline in the past four months, the Federal Reserve reported Friday. The decline was expected and reflected in the December unemployment report released last week, where manufacturing shed 12,000 jobs. Industrial production was down at a 0.5% annual rate in Q4. Production was down in three of …

Pentagon Pressures Taiwan Semi to Produce Chips In U.S.

January 16, 2020 by Jonathan Custer

Taiwan Semiconductor Manufacturing Co. is being pressured by the Pentagon to produce its military-use chips in the U.S., in order to ensure the potential of Chinese interference. TSMC makes computer chips for the American F-35 fighter jets and serves as a key supplier to Apple as well as Chinese telecommunications giant Huawei Technologies. “The …

North American Freight Volume Posts Sharpest Drop Since Great Recession

January 16, 2020 by Jonathan Custer

December freight volumes posted their sharpest year-over-year decline since the Great Recession. The Cass Freight Index, a measure of freight volumes and expenditures, accelerated its decline due to high inventories and a manufacturing downturn. Stifel analyst Dave Ross doesn’t expect a rebound in 2020: “The tariff relief from the phase-one deal seems to be just …