Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada as of March 26th was 31 oil and 50 gas (totaling 81). In percentage terms, on a month on month (m/m) basis, oil rigs were down 66.3% and gas down 29.6%. On a year on year (y/y) comparison, rigs were up 72.2% for oil and up 38.9% for gas. The combined figure for y/y was +50.0%, or +27 rigs.

Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders in February 2021 for durable goods decreased by 1.1% month on month (m/m) to $254B, following the 3.5% increase in January. The always-volatile nondefense aircraft orders, down 39.1% year on year (y/y), influenced this trend significantly.

U.S. Capacity Utilization was 74.9% in December 2020, up 2.0% month on month (m/m) – its ninth month in a row increasing for the year. Mexico Capacity Utilization was 78.6% in December, up 2.3% month on month (m/m). Canada Capacity Utilization was 76.5% in December, up 8.2% quarter on quarter (q/q).

Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. for the week ending February 26th was 309 oil and 92 gas (totaling 401). In percentage terms, on a month on month (m/m) basis, oil rigs were up 4.7% and gas up 4.5% On a year over year (y/y) comparison, rigs were down 54.4% for oil and down 16.4% for gas. The combined figure for y/y was -49.1% or -388 rigs.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada for the week ending February 26th was 92 oil and 71 gas (totaling 163). In percentage terms, on a month on month (m/m) basis, oil rigs were down 6.1% and gas down 6.6%. On a year on year (y/y) comparison, rigs were down 43.6% for oil and down 7.8% for gas. The combined figure for y/y was -32.1% or -77 rigs.

­­U.S. Steel Capacity Utilization: The total tonnage for the week ending February 27th was 1,749 million net tons, at a capacity utilization rate of 77.2%. The year-to-date tonnage output is 15,481 million net tons, at an average capacity utilization rate of 76.1%. In 2020, the same output total was 17,212 million net tons, at an average capacity utilization of 82.1%.