Archive for June 2015

After topping out at almost 1,600 oil rigs back in October 2014, oil exploration plummeted along with rig counts, which now number just 646. That said, current week-to-week rig count declines are trivial, going from a peak weekly decline of 94 in mid-January, to a decline of just 13 last week and just 33 total…

While Q1 GDP was revised down from +0.2% to -0.7% due to falling exports, rising imports, slower inventory growth, weak corporate spending on plant and intellectual property, and dismal spending on durable goods, residential construction activity was up a healthy 5% from Q4. Only services did significantly better, rising by 7.6%. The economy will not…