Global| Aug 15 2013U.S. Industrial Production Remains Unchanged
by:Tom Moeller
|in:Economy in Brief
Summary
Industrial production remained unchanged (1.3% y/y) during July following a 0.2% June increase, initially reported as 0.4%. A 0.3% rise had been expected in the Action Economics survey. Factory sector production slipped 0.1% (+1.3% [...]
Industrial production remained unchanged (1.3% y/y) during July
following a 0.2% June increase, initially reported as 0.4%. A 0.3% rise
had been expected in the Action Economics survey. Factory sector
production slipped 0.1% (+1.3% y/y) following 0.2% increases during the
prior two months. Utility output fell 2.0% (-3.7% y/y).
Consumer goods production declined 0.5% (+1.3% y/y) and reversed its June rise. Motor vehicle output fell 1.7% (+2.5% y/y). Elsewhere, computers, video & audio output was off 0.9% (+4.3% y/y) and appliance, furniture & related goods production fell 0.7% (+1.9% y/y). In the nondurables area, apparel output gained 0.7% (1.9% y/y) but paper production fell 0.9% (-2.9% y/y). Chemical production slipped 0.2% and was unchanged y/y.
Business equipment output was unchanged (2.1% y/y). Production of industrial & other equipment gained 0.3% (2.6% y/y) while transit equipment production remained steady (1.4% y/y). Working the other way, output of information processing and related equipment declined 0.8% (+1.6% y/y) but output of high-tech products rose 1.0% (4.9% y/y). Excluding the output of high tech products & motor vehicles, factory production slipped 0.1% (+1.0% y/y) during July.
The capacity utilization rate slipped to 77.6% from a downwardly revised 77.7% in June. In the factory sector, the rate also moved slipped to 75.8%. Overall industry capacity rose 1.8% y/y 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.
An Update on the Tapering Debate is the title of today's speech by St. Louis Fed President James Bullard and it can be found here.
| Industrial Production (SA, % Change) | Jul | Jun | May | Jul Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total Output | 0.0 | 0.2 | 0.0 | 1.3 | 3.6 | 3.3 | 5.7 |
| Manufacturing | -0.1 | 0.2 | 0.2 | 1.3 | 3.9 | 3.4 | 6.1 |
| Consumer Goods | -0.5 | 0.6 | -0.2 | 1.3 | 1.6 | 1.5 | 1.1 |
| Business Equipment | 0.0 | 0.5 | -0.2 | 2.1 | 8.3 | 5.6 | 8.3 |
| Construction Supplies | 0.5 | 0.6 | -0.6 | 4.4 | 5.2 | 3.0 | 3.6 |
| Materials | 0.4 | 0.0 | 0.3 | 1.6 | 4.1 | 4.7 | 8.8 |
| Utilities | -2.0 | -0.8 | -1.8 | -3.7 | -2.1 | -0.2 | 3.6 |
| Capacity Utilization (%) | 77.6 | 77.7 | 77.7 | 77.9 | 77.6 | 76.5 | 74.0 |
| Manufacturing | 75.8 | 75.9 | 75.9 | 76.0 | 75.8 | 74.0 | 71.3 |
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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