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April 2021

Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in March 2021 increased by 0.5% month on month (m/m) to $256.3M, following the 0.9% decrease in February. The always-volatile nondefense aircraft orders, up 1000+% y/y, influenced this trend significantly.
­­U.S. Steel Capacity Utilization: The total tonnage for the week ending March 27th was 1,760 million net tons, at a capacity utilization rate of 77.6%. The year-to-date tonnage output is 22,510 million net tons, at an average capacity utilization rate of 76.5%. In 2020, the same output total was 24,515 million net tons, at an average capacity utilization of 80.9%.
Oil and Gas Rotary Rig Counts:  The total number of operating rigs in the U.S. as of March 26th was 324 oil and 92 gas (totaling 416). In percentage terms, on a month on month (m/m) basis, oil rigs were up 4.9% and gas was flat. Looking at year over year (y/y), rigs were down 48.1% for oil and down 9.8% for gas. The combined figure for y/y was -42.7%, or -311 rigs.
Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada as of March 26th was 31 oil and 50 gas (totaling 81). In percentage terms, on a month on month (m/m) basis, oil rigs were down 66.3% and gas down 29.6%. On a year on year (y/y) comparison, rigs were up 72.2% for oil and up 38.9% for gas. The combined figure for y/y was +50.0%, or +27 rigs.
Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders in February 2021 for durable goods decreased by 1.1% month on month (m/m) to $254B, following the 3.5% increase in January. The always-volatile nondefense aircraft orders, down 39.1% year on year (y/y), influenced this trend significantly.

March 2021

U.S. Capacity Utilization was 74.9% in December 2020, up 2.0% month on month (m/m) – its ninth month in a row increasing for the year. Mexico Capacity Utilization was 78.6% in December, up 2.3% month on month (m/m). Canada Capacity Utilization was 76.5% in December, up 8.2% quarter on quarter (q/q).
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