The Steel Industry
The recent troubles of Cleveland’s LTV Steel Corporation have brought regional focus to the health of the U.S. steel industry. Sales of iron and steel decelerated steadily in terms of annualized growth rates during the first two quarters of 2000, then declined abruptly in the third quarter. Although the third-quarter decline in growth was not remarkable, having become a regular feature of iron and steel sales in recent years, the second-quarter growth decline was. Even during the last recession, growth in the iron and steel industry accelerated during the second quarter. The industry has not experienced a second-quarter slowdown in growth since 1989.
Suggested citation: "The Steel Industry," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-03, pp. 15, 03.01.2001.