July 2024 NFFS Economic Advisor

The July 2024 NFFS Economic Advisor is now available! Please note that you must log in to your NFFS account to see this members-only publication.

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In this issue:

• A Closer Look: The U.S. Economy: A Look Into the Housing Market: "The housing market is a leading sector of the economy, as trends in US Single-Unit Housing Starts generally precede trends in US Industrial Production by roughly three quarters. As a result, even if your business does not operate in the housing market, these trends are pertinent to your future planning."
  
• Macroeconomic Outlook: "Our system of leading indicators is generally rising, albeit weakly, supporting our forecast for a slightly stronger economy in 2025, particularly in the latter half. If you remain concerned about ongoing weakness in industrial markets, look to implement efficiencies in your business rather than cut your workforce, as we expect recovery soon amid a persistently tight labor market in the coming years."
• Leading Indicator Snapshot: "We have yet to see well-defined rise in the US Total Industry Capacity Utilization Rate, unlike the performance of other leading indicators, highlighting the probability of a softening manufacturing sector in the near term."
• Manufacturing Industry Analysis: "US Total Manufacturing Production in the 12 months through June was 0.4% below the yearago level." 
• Readers Forum: "I keep reading about how industrial sector activity is flat, but my business is contracting. Am I doing something wrong?"

The NFFS Economic Advisor provides economic data that is sourced and compiled on a monthly basis by ITR Economics for members of NFFS. It provides leading indicator trend data and relevant economic news to assist foundries with their internal economic analyses and business planning.

For more helpful economic resources and expert insights from ITR Economics, visit the NFFS Economic Portal.