Productivity gains have been strong in the current period, allowing the economy to recover without creating jobs. |
Scrap has always been a good indicator, because it feeds directly into consumer spending and capital spending. If scrap steel is rising sharply, it's a good indication that things overall are picking up. It's an old, trusted standby and it should not be ignored. |
They always tend to never expect it to decline as much as it actually does and never to increase as much as it does. |