Recent Updates
- Israel: Average Housing Prices (Q2)
- Japan: NCI Economic Activity Index (Aug)
- US: NAHB/Wells Fargo Housing Market Index (Aug)
- Canada: Wholesale trade, MSIO (June)
- Pakistan: Foreign Currency Deposits and Utilization (JUL)
- more updates...
Economy in Brief
U.S. Empire State Manufacturing Index Plummets in August; Lowest Since May '20
The Empire State Manufacturing Index of General Business Conditions plunged to -31.3 in August...
U.S. Import and Export Prices Fall in July; Deepest Since April 2020
Import prices fell 1.4% m/m (8.8% y/y) in July...
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller August 16, 2005
Industrial production increased 0.1% last month following a downwardly revised 0.8% gain in June. Consensus expectations had been for a 0.5% rise. Factory sector output also slowed to half the prior month's gain and rose 0.2% (3.1% y/y) in July.
Lower motor vehicle production, off 2.3% (+4.4% y/y), was responsible for much of last month's weakness in output growth. Less motor vehicles, factory output rose 0.3% (2.8% y/y) after a 0.2% June increase.
With a 2.6% (19.0% y/y) spike, output of computers & peripheral equipment posted the largest one month increase since January. Excluding the high tech sector as well as autos, factory output rose 0.2% (1.8% y/y).
Output of industrial & other equipment jumped 1.3% (1.8% y/y) and furniture output rose 0.4% (-1.9% y/y). On the weak side was nondurable goods which fell 0.2% (+1.2% y/y).
Total capacity utilization dipped to 79.7% and capacity grew 1.1% y/y. Factory sector utilization was stable at 78.3%, up from 77.0% last July 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 | July | June | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Industrial Production | 0.1% | 0.8% | 3.0% | 4.1% | -0.0% | -0.3% |
Consumer Goods | -0.4% | 1.1% | 3.0% | 2.7% | 0.3% | 1.4% |
Business Equipment | 1.2% | 0.2% | 6.7% | 9.5% | 1.2% | -7.9% |
Capacity Utilization | 79.7% | 79.8% | 78.3% (7/04) | 78.1% | 75.5% | 75.3% |