Recent Updates

  • US: GDP by Industry (Q1)
  • Canada: Retail Trade (May), CPI (Jun)
  • Thailand: Trade (Jun); China: Loans from Financial Institutions (Jun); Korea: Trade in Goods (Jun); Taiwan: Export Orders (Jun)
  • Turkey: NCI Index (Jul)
  • Turkey: Established & Liquidated (Jun-Press); Morocco: CPI, Public Finance (Jun)
  • Spain: Workers Affected by Layoffs (Apr); Foreign Trade (May)
  • more updates...

Economy in Brief

U.S. Industrial Production Gain Slackens
by Tom Moeller  July 16, 2014

Industrial output in the U.S. increased 0.2% during June following a 0.5% May rise, revised from 0.6%. A 0.3% gain in total production was expected in the Action Economics Forecast Survey. Production in the factory sector rose 0.6% (3.5% y/y) after a 0.1% May slip, last month reported as 0.6%. Utility output fell 0.3% (+1.8% y/y) following a 0.4% decline.

Construction supplies production led last month's increase with a 0.5% gain (4.6% y/y) following a 1.3% rise. Business equipment production ticked 0.1% higher (4.7% y/y) after a 0.7% improvement while consumer goods output was unchanged (3.0% y/y) following two months of decline. Motor vehicles & parts production edged 0.3% lower (+6.8% y/y) following a 1.9% increase. Appliances, furniture & carpeting production gained 0.5% (7.8% y/y) following strong increases in the prior three months. Computers & electronics edged 0.1% higher (4.4% y/y). Amongst soft-goods industries, clothing production declined 1.3% (+0.9% y/y), off for the third straight month, and paper output gained 0.4% (-2.8% y/y).

Within the special aggregate series, high technology industries posted a 0.3% production gain (6.4% y/y), paced by a 0.4% rise (-0.1% y/y) in computer output. Factory production excluding the high-tech sector rose 0.1% (3.3% y/y). Manufacturing production excluding both high-tech and autos gained 0.2% (3.1% y/y).

The capacity utilization rate remained at 79.1% last month, about where it's been for four straight months. That remained below the 80.5% high averaged in 2007. In the factory sector, the capacity utilization rate slipped to 77.1% and remained below the 78.6% level before the recession. Total industry capacity rose an improving 2.7% y/y while factory sector capacity increased 2.1%.

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) Jun May Apr Jun Y/Y 2013 2012 2011
Total Output 0.2 0.5 0.0 4.3 2.9 3.8 3.3
Manufacturing 0.1 0.4 0.3 3.4 2.7 4.1 3.3
  Consumer Goods 0.0 -0.3 -0.6 3.0 2.4 1.7 1.5
  Business Equipment 0.1 0.7 0.4 4.7 3.6 7.5 5.6
  Construction Supplies 0.5 1.3 -0.8 4.6 4.2 4.6 3.0
Materials 0.4 0.8 0.5 5.4 3.2 4.5 4.7
Utilities -0.3 -0.4 -5.2 1.8 2.1 -2.1 -0.2
Capacity Utilization (%) 79.1 79.1 79.0 77.8 77.9 77.3 76.3
 Manufacturing 77.1 77.2 77.0 76.1 76.1 75.5 73.9
close
large image