- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller March 17, 2017
Industrial production remained unchanged (+0.3% y/y) during February following a 0.1% January slip, revised from -0.3%. A 0.2% increase had been expected in the Action Economics Forecast Survey. Warm temperatures again provided a decided influence on the overall reading, lessening utilities output by 5.7% (-7.0% y/y), about as it did in January. To the upside, manufacturing sector output strengthened 0.5% (1.2% y/y) following the same-sized January increase, revised from 0.2%. These were the strongest back-to-back results since late-2012. Mining output jumped 2.7% (1.8% y/y) following a 2.2% gain.
Output of construction supplies benefited from the warm weather and increased 1.3% (1.7% y/y), about the same as in January. Business equipment also rose a firm 0.7% (1.6% y/y), strengthened by a 1.2% jump (2.1 % y/y) in the production of industrial equipment. A 0.4% decline (+0.1% y/y) in consumer goods production reflected a 5.6% slide (-7.3% y/y) in energy product output. Nondurable, nonenergy consumer goods production rose 0.3% (0.1% y/y) driven by a 0.8% rise (1.9% y/y) in foods & tobacco. Chemical production eased 0.2% (-1.9% y/y) but clothing production held steady (-4.1% y/y). Durable consumer goods output also remained unchanged (+0.3% y/y), held back by a 3.6% drop (+0.5% y/y) in appliance & furniture production. A 0.4% rise (3.6% y/y) in auto production countered this decline, while output of computers, audio and video product production remained unchanged (+2.1% y/y).
Materials production eased 0.1% (+0.2% y/y), held back by a 1.7% decline (-0.5% y/y) in textile product output and a 1.5% drop (-2.1% y/y) in energy materials.
Amongst the special aggregate series, high-technology product production increased 0.2% (6.4% y/y. Factory output excluding high technology products rose 0.5% (0.9% y/y). Factory output excluding both high-tech and motor vehicles gained 0.5% (0.9% y/y).
Capacity utilization slipped to 75.4% with the decline in utility output. Factory sector utilization increased to 75.6%, its highest level since August 2015. Factory sector capacity rose 0.9% y/y, its quickest annual rate of increase since late-2015.
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)||Feb||Jan||Dec||Feb Y/Y||2016||2015||2014|
|Capacity Utilization (%)||75.4||75.5||75.6||75.6||75.4||76.7||78.2|