Recent Updates
- Canada: GDP (Q4), GDP by Industry (Dec)
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Economy in Brief
NABE Projects Firm Growth in 2022, as in 2021
The NABE expects 4.0% real GDP growth in 2022 following a 4.8% rise during 2021...
U.S. Construction Spending Strengthens Again in January
Building activity continues to strengthen...
Manufacturing PMIs Are Strengthening More in the Developed World
PMIs largely are improving in February...
U.S. Personal Income & Spending Surge With Stimulus Payments in January
Personal income jumped 10.0% (13.1% y/y) last month...
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller October 14, 2005
Industrial output last month fell 1.3% reflecting the effects of Hurricane's Katrina & Rita and the decline by far outpaced Consensus expectations for a 0.4% drop. Utility output (-0.9%) and mining output (-9.1%) again reflected the worst damage. Factory sector production fell a lesser 0.6% (+2.9% y/y).
The Federal Reserve indicated that storm-related production declines may have reduced the change in total industrial production about 1.7 percentage points and by nearly 0.4 percentage points in August. Additionally, the strike in the aircraft industry reduced the change in total industrial output by almost 0.5 percentage points.
Output of computers, peripheral equipment & semiconductors jumped 3.7% (24.6% y/y). Excluding the high tech sector factory output fell 0.9% (+1.6% y/y).
Output of appliances, furniture & carpeting rose 0.3% (4.1% y/y) but business equipment output dropped a sharp 3.7% reflecting a 24.3% drop in transit equipment and a 3.4% decline in defense & space.
Total capacity utilization fell sharply to 78.6% and capacity grew 1.1% y/y. Factory sector utilization fell to 77.9% while capacity rose 1.4% y/y.
Production & Capacity | Sept | Aug | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Industrial Production | -1.3% | 0.2% | 2.0% | 4.1% | -0.0% | -0.3% |
Consumer Goods | 0.3% | 0.5% | 3.6% | 2.7% | 0.3% | 1.4% |
Business Equipment | -3.7% | -0.4% | 4.0% | 9.5% | 1.2% | -7.9% |
Capacity Utilization | 78.6% | 79.8% | 78.0% (9/04) | 78.1% | 75.5% | 75.3% |