Metal West Blog

October 2020 Insight Guide: Market Indicators

The Economy The number of Americans filing new claims for unemployment fell last week, but still remained at recession levels. Personal income dropped in August, emphasizing the need for another relief package for businesses and the unemployed. The U.S. economy added 661,000 jobs in September, while the unemployment rate ticked down to 7.9%. While this […]

Metal West Blog

September 2020 Insight: Market Indicators

The Economy The U.S. economy plunged at an annual rate of 31.7% during the second quarter under the weight of the coronavirus pandemic. This is the sharpest quarterly drop on record, the previous worst drop was a 10% loss in 1958. A hiring bounce-back in June suggested that the economy began to recover. However, economists […]

Metal West Blog

August 2020 Insight Guide: Market Indicators

The Economy With the COVID-19 pandemic causing weeks of record job losses and an unemployment rate not seen since the Great Depression, has the U.S. economy seen the bottom? According to Forbes, the leading economic indicators they track signal yes; the shortest recession in history is over. However, three components are necessary for a durable […]

Metal West Antimicrobial Steel Coatings

Our Sales Reps Discuss the Affects of the Pandemic On Business

With the COVID-19 pandemic still affecting the U.S., doing business has changed drastically. While the steel and manufacturing industries were deemed essential, we have had to learn to adapt to the different climate. Between Metalwest and Norfolk Iron & Metal we have several locations throughout the country. Each location has had a different experience with […]

Metal West Blog

July 2020 Insight Guide: Market Indicators

The Economy As COVID-19 continues to spread in the U.S., Goldman Sachs revised its GDP expectation for the third quarter. The bank now sees GDP growing 25%, down from the original expectation of 33%. The bank also sees total economic contraction worsening to 4.6% from 4.2%. This is largely due to slower-than-expected recovery in consumer […]

Metal West Antimicrobial Steel Coatings

How the Pandemic Affected the Steel Sector: Opinion

In March 2020, President Trump declared a national emergency under the Stafford Act. This freed up $50 billion in federal resources to combat the coronavirus outbreak. On March 26, Senate unanimously passed the $2 trillion stimulus plan. This gave cash and assistance to U.S. citizens, small businesses, airlines, manufacturers, and more. It also gave an […]

Metal West Blog

June 2020 Insight Guide: Market Indicators

The Economy The U.S. economy added 2.5 million jobs in May, a surprising jump as businesses across the nation began to reopen from the COVID-19 shutdown. The unemployment rate fell to 13.3%; this is still high by historical standards, but much better than expected and still an improvement over April’s jobless rate of 14.7%. With […]

Metal West Blog

May 2020 Insight Guide: Market Indicators

The Economy The U.S. economy cut a record 20.5 million jobs in April, while the unemployment rate climbed to 14.7%, as the coronavirus pandemic forced businesses across the U.S. to temporarily shut down and lay off workers. Key Indicators The Architectural Billings Index fell by 20.1 points to a score of 33.3 for the month […]

Metal West Blog

April 2020 Insight Guide: Market Indicators

The Economy Initial filings for unemployment insurance in the U.S. totaled a record 6.648 million for the week ending March 28. That more than doubled the prior week’s reported total that was also marked a high record at the time. Economists at Bank of America Global Research believe that, even though the current labor market […]

risk management

Risk and Risk Management

Taking Risks Risk is an important part of life. We each have to manage it, often times encourage it, and in some cases, we even try to eliminate it. Typically, we think of positive risk related to growing our retirement accounts, investing in a new home, or maybe taking a leap and buying an investment […]