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- UK: **Retail Sales rebased to 2016=100**
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Economy in Brief
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
U.S. Housing Starts Weaken Unexpectedly
Total housing starts declined 12.3% (-4.2% y/y) during June to 1.173 million (AR)...
U.S. Mortgage Loan Applications Reverse Earlier Increase
The MBA total Mortgage Applications Index declined 2.5% last week (-12.8% y/y)...
by Tom Moeller May 17, 2005
Industrial production fell 0.2% in April following a downwardly revised 0.1% increase in March. Consensus expectations had been for a 0.2% gain. Lower utility output accounted for all of the decline as it fell 2.3% (0.7% y/y) for the third decline this year.
Factory sector output recovered 0.1% (3.5% y/y) of a downwardly revised 0.3% decline in March. Excluding the high tech sector where output rose 1.8% (20.3% y/y) factory output fell for the second month, down 0.1% (+2.5% y/y). During 2004 factory output less high tech rose 3.9%.
Production of electrical equipment, appliances & components rose 0.2% after a downwardly revised 1.0% March increase, but the y/y gain of 2.0% was well off the 6.2% pace of 2004. Machinery output also rose a firm 1.3% but here as well the y/y growth of 6.3% is about last year's increase.
Total capacity utilization slipped to 79.2% and capacity grew 1.2% y/y. Factory sector utilization also slipped to 77.9% and capacity rose 1.3% y/y.
| Production & Capacity | April | March | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Industrial Production | -0.2% | 0.1% | 3.1% | 4.1% | -0.0% | -0.3% |
| Consumer Goods | -0.9% | -0.2% | 1.4% | 2.7% | 0.3% | 1.4% |
| Business Equipment | 0.8% | -0.1% | 8.4% | 9.5% | 1.2% | -7.9% |
| Capacity Utilization | 79.2% | 79.4% | 77.7% (04/04) | 78.1% | 75.5% | 75.3% |
