Global| Dec 15 2005Industrial Output Up
by:Tom Moeller
|in:Economy in Brief
Summary
A surprising 4.8% jump in mining output pushed the gain in overall industrial output last month to 0.7% and that exceeded Consensus expectations for a 0.5% rise. Factory sector production rose a moderate 0.4% (4.1% y/y) on the heels [...]
A surprising 4.8% jump in mining output pushed the gain in overall industrial output last month to 0.7% and that exceeded Consensus expectations for a 0.5% rise.
Factory sector production rose a moderate 0.4% (4.1% y/y) on the heels of the 1.9% spike in October which followed curtailments due to hurricanes.
Higher output of business equipment again led the strength in factory output. A 0.9% (10.4% y/y) increase last month reflected strong gains in transit equipment (12.8% y/y), information processing equipment (19.4% y/y) and industrial & other (5.0% y/y). Excluding the high tech sector altogether, factory output gained 0.1% (2.5% y/y).
Consumer goods output fell by 0.8% (+1.4% y/y) led by a 5.2% decline (+0.2% y/y) fall in automotive products. Output of appliances, furniture & carpeting also fell hard by 1.6% (+2.0% y/y) but output of computers, video & audio equipment output rose 4.2% (2.4% y/y). Nondurables output inched up 0.1% with apparel output up 0.8% (-2.6% y/y).
Total capacity utilization rose to 80.2% and capacity grew 1.6% y/y. Factory sector utilization rose to 79.4% while capacity rose 2.1% y/y.
| Production & Capacity | Nov | Oct | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Industrial Production | 0.7% | 1.2% | 2.8% | 4.1% | 0.6% | 0.1% |
| Consumer Goods | -0.8% | -0.2% | 1.4% | 2.1% | 1.0% | 2.2% |
| Business Equipment | 0.9% | 7.4% | 10.4% | 9.3% | 0.0% | -7.8% |
| Capacity Utilization | 80.2% | 79.8% | 79.3% (11/04) | 78.6% | 75.7% | 75.2% |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
More Economy in Brief
