Recent Updates

  • Japan: Wage Indexes, Monthly Labor Survey (Nov)
  • New Zealand: Accomodation Survey (Nov)
  • Canada: Wholesale Trade (Nov)
  • US: National Financial Conditions Index (Dec)
  • Ireland: WPI (Dec)
  • Spain: Cement Statistics (Jun), Industry Turnover Indexes, New Orders, Services Sector Activity Index (Nov), Government Debt (Dec)
  • more updates...

Economy in Brief

U.S. Industrial Production Increase Led By Utilities
by Tom Moeller  October 28, 2013

Industrial production rose 0.6% during September (3.1% y/y) following an unrevised 0.4% August increase. A 0.3% gain had been expected in the Action Economics survey. A strong 4.4% rise (4.4% y/y) in utility output paced last month's gain in production. Factory production, however, ticked up just 0.1% (2.6% y/y).

A 0.3% decline (+0.6% y/y) in nondurable manufacturing output held back the increase in total production. That was led by a 1.1% drop (-0.8% y/y) in printing & related activities as well as a 0.8% shortfall (-3.6% y/y) in textiles. Production of durable goods gained 0.5% (4.7% y/y). Motor vehicle & parts production increased 2.0% (11.2% y/y) and machinery production rose 1.5% (3.4% y/y). To the downside was computers & electronics output by 0.5% (+5.5% y/y). Excluding autos & high tech, factory sector industrial production ticked up 0.1% (1.8% y/y).

The capacity utilization rate increased to 78.3% led by the rise in utilities to 79.3%. In the factory sector, the utilization rate was unchanged at 76.1%. The electrical equipment industry is producing at 81.2% of capacity while the motor vehicle industry is at 77.1%. Also, the apparel industry is producing at 73.7% of capacity. Overall industry capacity rose 1.8% y/y last month while factory sector capacity increased 1.5% y/y.

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) Sep Aug Jul Sep Y/Y 2012 2011 2010
Total Output 0.6 0.4 -0.1 3.1 3.6 3.3 5.7
Manufacturing 0.1 0.5 -0.3 2.6 3.9 3.4 6.1
  Consumer Goods 0.8 0.2 -0.8 2.2 1.6 1.5 1.1
  Business Equipment 1.2 0.5 -0.8 3.7 8.3 5.6 8.3
  Construction Supplies 0.6 0.2 0.5 5.5 5.2 3.0 3.6
Materials 0.3 0.6 0.4 3.8 4.1 4.7 8.8
Utilities 4.4 -0.8 -0.2 2.6 -2.1 -0.2 3.6
Capacity Utilization (%) 78.3 77.9 77.7 77.2 77.6 76.5 74.0
 Manufacturing 76.1 76.1 75.8 75.3 75.8 74.0 71.3
close
large image