CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US Manufacturing Output Sluggish, Hampering Diesel Use: Reuters

OIL PRODUCTS

US manufacturing production has barely increased from pre-pandemic levels, explaining the ongoing weakness in diesel demand, according to Reuters.

  • US flash PMIs were stronger than expected in June, with manufacturing rising to 51.7 (cons 51.0) from 51.3.
  • Reuters added that real manufacturing value-added has increased at a compound annual rate of only 0.7% since 2018, well below US whole-economy growth of 2.1%.
  • Despite a pickup in manufacturing, it has been too slow to lift diesel demand sufficiently, with the EIA not forecasting a significant growth in distillate consumption in 2024 or 2025.
  • Around 75% of diesel and fuel oil consumption is from road and rail freight haulers, as well as other industrial users, Reuters said.
Energy BulletsHomepagemarkets-real-timeBulletCommodities
Energy BulletsHomepagemarkets-real-timeBulletCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.