Recent Updates
- US: Kansas City Fed Mfg Survey (May)
- US: Pending Home Sales Index (Apr)
- US: GDP and Corporate Profits (Q1, 2nd release)
- Canada: Retail Trade, Payroll Employment (Mar)
- South Africa: PPI (Apr) Government Debt (Apr-Prelim)
- more updates...
Economy in Brief
Kansas City Fed Manufacturing Index Dips in May But Remains Strong
The Kansas City Fed reported that its manufacturing sector business activity index declined to 23 in May...
U.S. Pending Home Sales Decline Sharply in April
Home buying remains under pressure...
U.S. Unemployment Claims Eased Slightly in the Latest Week
Initial claims for unemployment insurance filed in the week ended May 21 were 210,000 (-52.4% y/y)...
U.S. Durable Goods Orders Increase Modestly in April
Manufacturers' new orders for durable goods increased 0.4% during April (12.2% y/y)...
U.S. Mortgage Applications Continue to Weaken
The MBA Loan Applications Index fell 1.2% (-54.5% y/y) in the week ended May 20...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
by Tom Moeller July 17, 2012
Industrial output gained 0.4% during June following a revised 0.2% May
decline, last month reported as -0.1%. A 0.3% increase had been expected.
A rebound in factory output led last month's improvement with a 0.7% rise
which reversed the prior month's drop. Working the other way, utilities
output fell 2.0% with a cool start to summer after a 2.9% May rise.
In manufacturing, the capital goods sector continued to stand out with a 1.6% rise (12.7% y/y) in business equipment output. Consumer goods production rose a scant 0.1% (2.1% y/y) and made up May's slip. The 1.4% rise (19.4% y/y) in auto output was offset by a 1.3% decline (-2.2% y/y) in computers, audio & video equipment. Appliance & furniture production was unchanged (3.0% y/y) while clothing production fell 1.7% (-3.5% y/y). Utilities output fell 2.0% (-2.4% y/y).
Capacity utilization nudged up to 78.9%. In manufacturing alone, utilization rose to 77.7% and remained up from the recession low of 64.4%. Overall capacity is estimated to have risen 1.3% y/y following a 0.2% dip last year and a 2.0% decline during 2010. In the factory sector, capacity rose 1.2% y/y and excluding the high-tech industries it increased 0.8%.
Industrial production and capacity data are included in Haver's USECON database, with additional detail in the IP database. The expectations figure is in the AS1REPNA database.
This morning's Senate testimony by Fed Chairman Ben S. Bernanke is available here.
Industrial Production (SA, % Change) | Jun | May | Apr | Jun Y/Y | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
Total Output | 0.4 | -0.2 | 0.7 | 4.6 | 4.1 | 5.4 | -11.4 |
Manufacturing | 0.7 | -0.7 | 0.7 | 5.6 | 4.3 | 5.7 | -13.8 |
Consumer Goods | 0.1 | -0.1 | 0.9 | 2.1 | 2.3 | 1.1 | -6.9 |
Business Equipment | 1.6 | 0.1 | 1.6 | 12.7 | 8.3 | 8.3 | -18.2 |
Construction Supplies | -0.4 | -1.3 | 0.6 | 4.8 | 5.6 | 3.8 | -22.9 |
Materials | 0.4 | -0.2 | 0.6 | 4.9 | 4.6 | 8.4 | -11.5 |
Utilities | -2.0 | 2.9 | 2.3 | -2.4 | -0.3 | 3.6 | -2.5 |
Capacity Utilization (%) | 78.9 | 78.7 | 78.9 | 76.3 | 76.8 | 73.7 | 68.5 |
Manufacturing | 77.7 | 77.3 | 77.9 | 74.4 | 75.0 | 71.3 | 65.5 |