Afternoon Coffee: Manufacturing Sector Growth Slows in December, U.S. Exports First Oil Shipment Since Ban Was Lifted

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The Institute for Supply Management’s December PMI registered 48.2%, down 0.4% from November and showing a contraction in economic activity for the U.S. manufacturing sector.

Last week, ConocoPhillips Co. and NuStar Energy LP sent the first oil tanker of U.S. crude since the oil export ban was lifted. The tanker was full of oil from the Eagle Ford Shale in Texas and departed the Port of Corpus Christi on Dec. 31.

Also last week, the largest container ship to ever dock at a North American port arrived at the Port of Los Angeles. The 1,300-foot-long ship, named the Benjamin Franklin, launched from a Chinese port in November.

The Federal Aviation Administration is considering requiring satellite tracking technology on delivery drones. The technology, called automatic dependent surveillance-broadcast technology, or ADS-B, would send location data to air-traffic controllers, which could help ensure drones stay away from other aircraft.

 

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