Global| Apr 15 2005Industrial Production Gain All Utilities
by:Tom Moeller
|in:Economy in Brief
Summary
Industrial production matched Consensus expectations and rose 0.3% in March following a downwardly revised 0.2% gain in February. The increase was due to cold weather which lifted utility output by 3.7% (5.0% y/y). Factory sector [...]
Industrial production matched Consensus expectations and rose 0.3% in March following a downwardly revised 0.2% gain in February. The increase was due to cold weather which lifted utility output by 3.7% (5.0% y/y).
Factory sector output fell 0.1% (+4.2% y/y) for the first decline since September. Excluding a 0.9% (20.0% y/y) rise in high tech sector output, manufacturing production fell 0.2% (+3.1% y/y).
Motor vehicle & parts led output lower and fell 3.6% (+2.1% y/y). Excluding both high tech & motor vehicles factory in March, output ticked up 0.1% (3.2% y/y). Output of furniture was unchanged (-0.7% y/y) but clothing output fell 1.9% (-10.0% y/y). Machinery output rose 0.5% (7.3% y/y) and production of electrical equipment, appliances & components rose 0.4% (4.0% y/y).
Total capacity utilization rose to 79.4% as capacity grew 1.2% y/y. Factory sector utilization fell to 78.0% and capacity rose 1.3% y/y.
Yesterday's speech by Federal Reserve Board Governor Donald L. Kohn on the Economic Outlook can be found here.
| Production & Capacity | Mar | Feb | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Industrial Production | 0.3% | 0.2% | 3.9% | 4.1% | -0.0% | -0.3% |
| Consumer Goods | -0.2% | 0.5% | 2.4% | 2.7% | 0.3% | 1.4% |
| Business Equipment | 0.2% | 0.2% | 8.7% | 9.5% | 1.2% | -7.9% |
| Capacity Utilization | 79.4% | 79.3% | 77.4% (03/04) | 78.1% | 75.5% | 75.3% |
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.
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