- Estonia: Government Finance (Jul)
- New Zealand: Building Consents Issued (Jul), Business Outlook Survey (Aug); Australia: RBA Financial Aggregates,Bank Lending by Sector (Jul)
- Japan: Industrial Production, Wholesale & Retail Trade, Current Survey of Mass Merchandise Specialty Retailers (Jul-prelim), CPI, Labor Force Survey Loans & Discounts Outstanding, Trading Volume of Bond with Options, Auto Production & Exports, Petroleum Statistics (Jul)
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Economy in Brief
Kansas City Fed Factory Sector Activity Weakens M/M
The Kansas City Fed reported that its August Composite index of 10th District factory sector activity deteriorated to 3...
U.S. Initial Unemployment Claims Are Little-Changed
Initial claims for jobless insurance during the week ended August 23 slipped to 298,000 from 299,000 in the prior week...
U.S. Pending Home Sales Recover
Pending sales of single-family homes jumped 3.3% (-2.1% y/y) during July...
EU Commission Indices Drop for EU and EMU in August to 8-Month Lows
The economic sentiment indicator for the European Union fell to 104.6 in August from 105.8 in July...
U.S. Food Price Inflation Runs Hot
Following a muted performance during all of last year, the cost of food is again leading consumer prices higher...
U.S. Mortgage Loan Applications Increase as Financing Remains Cheap
The MBA total Mortgage Market Volume Index rose 2.8% last week (-19.9% y/y) after the prior week's 1.4% gain...
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|