- US: New Residential Construction (Aug)
- Sweden: GDP (Q2) *Change to ESA2010
- US: Travel & Tourism Satellite Accounts (Q2)
- Georgia: GDP (Q2); Ukraine: BOP, External Debt (Q2); Macedonia: Retail Trade (Jul); Montenegro: HICP (Aug); Kazakhstan: Fixed Capital Investment (Aug); Latvia: Unemployment (Aug)
- Ireland: GDP, BOP (Q2)
- UK: Retail Sales, CML Survey of Mortgage Lenders, Capital Issuances (Aug), CBI Industrial Trends Survey (Sep)
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Economy in Brief
U.S. Current Account Deficit Shrinks
The U.S. current account deficit decreased in Q2'14 to $98.5 billion from $102.1 billion in Q1...
U.S. Home Builders Index Improves Sharply
The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo jumped to 59 during September...
Euro Area HICP Steadies at 0.4%
The overall inflation rate in the European Monetary Union settled in at 0.4% year-over-year...
U.S. Producer Prices Remain Unchanged; Core Index Up 0.1%
The overall Final Demand Producer Price Index held steady during August (1.8% y/y) following an unrevised 0.1% uptick in July...
U.S. Chain Store Sales Weaken Sharply
The International Council of Shopping Centers and Goldman Sachs reported that chain store sales fell 2.6% last week...
U.S. Energy Prices Move Lower
The price for a gallon of regular gasoline declined to $3.41 (-3.9% y/y...
by Tom Moeller January 16, 2013
Industrial production rose a moderate 0.3% (2.3% y/y) last month following a revised 1.0% November jump, initially reported as 1.1%. A 0.2% gain had been expected in the Action Economics survey. For the year, output rose 3.7% after a 4.1% jump in 2011. Unseasonably warm temperatures helped cause a 4.7% (-0.2% y/y) decline in utility output. That left factory output to rise a firmer 0.8% (2.4% y/y), though that still was below the 1.3% November rebound following Hurricane Sandy. For the year factory output rose 4.1%, about as it did in 2011.
In the factory sector, output of business equipment posted a strong 1.3% rise last month which left the y/y advance at 8.7%. Offsetting this strength was no change (1.0% y/y) in the production of consumer goods. A strong 2.6% rise (17.2% y/y) in the output of motor vehicles & parts was countered by a 1.6% decline (+5.5% y/y) in electronic equipment and appliances. Computers & electronics production rose 1.6% (1.9% y/y). Overall, manufacturing output excluding high tech and motor vehicles rose 0.7% (1.3% y/y) during December. The rise of 3.2% for 2012 compared to 3.7% in 2011 and 3.6% during 2010.
The capacity utilization rate ticked up to 78.8% in December and for the year the utilization rate was roughly unchanged at 78.7%. In the factory sector, the rate rose to 77.4%, its highest level since July. During 2012, the capacity utilization rate averaged 77.2% versus 75.0% during 2011.
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.
|Industrial Production (SA, % Change)||Dec||Nov||Oct||Dec Y/Y||2012||2011||2010|
|Capacity Utilization (%)||78.8||78.7||78.0||78.3||78.7||76.8||73.7|