February 2020 Insight Guide: Market Indicators
Economic News The U.S. economy grew 2.3% in 2019, a slow down from the previous year when the economy grew 2.9%. Consumer spending is expected to remain the top driver of economic growth. January added 225,000 jobs. This is well beyond what economists predicted and is most likely due to an unseasonably warm January. Meanwhile, […]
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What is GAINS Systems?
GAINS Systems (GAINS) is a comprehensive inventory planning software that uses our data to indicate when specific items in our inventory need to be replenished and the level in which they need to be replenished to. Using forecasts, lead times and other volatility metrics, GAINS helps calculate how much of each item needs to be held […]
Read More →January 2020 Insight Guide: Market Indicators
The Economy The U.S. economy has expanded for a record of 126 straight months as of December2019. Meaning, the U.S. has avoided a recession for an entire decade for the first time ever. Economists say this is due to the U.S. coming from such a low point at the end of the last decade. Much […]
Read More →December 2019 Insight Guide: Market Indicators
The Economy U.S. trade deficit dropped almost 8% in October to a 16-month low. This is largely due to lower imports from China tied to the ongoing trade dispute. The deficit slide to $47.2 billion from a revised $51.1 billion the prior month. If this persists through this month, the smaller gap could boost gross […]
Read More →NIM Leadership Reflects on Acquisition of Metalwest
With the acquisition of Metalwest by Norfolk Iron & Metal (Norfolk Iron) approaching the 1-year mark, we thought it would be a great opportunity to talk with the members of the Norfolk Iron leadership team to see how they feel about the acquisition and what it means for the two companies. “The acquisition of Metalwest […]
Read More →November 2019 Insight: Market Indicators
The Economy U.S. productivity fell for the first time since 2015 in the third quarter. This reflects a cutback in production as the U.S. economy slowed. Productivity declined at a 0.3% annual rate while economists predicted a 0.6% increase. The U.S. economy added 128,000 jobs in October while the jobless rate edged up to 3.6%. […]
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Norfolk Iron & Metal is one of the nation's largest carbon steel providers. We always stay true to what got us here: hard work and customer service.
