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Economy in Brief
PMIs Stabilize or Creep Higher After Drop-Off
In the EMU, both the services and manufacturing sectors took a substantial step down one month ago...
FIBER: Industrial Commodity Prices Strengthen Selectively
The FIBER Industrial Materials Price Index increased 0.4% during the last four weeks...
German PPI Accelerates
The German year-on-year PPI has generally been decelerating since early 2017...
U.S. Leading Economic Indicators Signal Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during March...
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
by Tom Moeller July 15, 2005
Industrial production in June jumped 0.9% and handily beat Consensus expectations for a 0.4% rise. The gain was inflated by warmer weather which raised utility output by 5.3%. Factory sector output rose 0.4% (3.8% y/y) following a downwardly revised 0.4% increase in May.
Output of computers & peripheral equipment jumped 1.3% (12.5% y/y) though high tech output overall rose just 0.3% (17.0% y/y). Excluding the high tech sector factory output rose 0.5% (3.1% y/y) due to a 2.9% (6.9% y/y) rise in motor vehicle output and a 0.8% (9.2% y/y) increase in aerospace. Electrical equipment fell 0.1% (+1.0% y/y) and machinery output rose 0.2% (7.0% y/y).
Total capacity utilization rose to 80.0% and capacity grew 1.1% y/y. Factory sector utilization rose to 78.4% versus 76.5% last June and capacity rose 1.3% y/y.
The Relationship Between Capacity Utilization and Inflation from the Federal Reserve Bank of Philadelphia can be found here.
| Production & Capacity | June | May | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Industrial Production | 0.9% | 0.3% | 4.0% | 4.1% | -0.0% | -0.3% |
| Consumer Goods | 1.2% | 0.7% | 4.1% | 2.7% | 0.3% | 1.4% |
| Business Equipment | 0.2% | 1.0% | 8.2% | 9.5% | 1.2% | -7.9% |
| Capacity Utilization | 80.0% | 79.4% | 77.8% (6/04) | 78.1% | 75.5% | 75.3% |
