Global| Aug 15 2007U.S. Industrial Production Up Expected 0.3%
by:Tom Moeller
|in:Economy in Brief
Summary
Industrial production rose an expected 0.3% following an upwardly revised gain of 0.6% during June. Factory output surged another 0.6%, bringing the three month change in output to 1.2%, its best gain in about one year. Consumer goods [...]
Industrial production rose an expected 0.3% following an upwardly revised gain of 0.6% during June.
Factory output surged another 0.6%, bringing the three month change in output to 1.2%, its best gain in about one year.
Consumer goods output grew 0.4% (2.4% y/y) after the upwardly revised 1.0% June jump. Higher output of automotive products, up 2.4% (8.7% y/y), accounted for much of the gain. Production of computers & electronics fell 0.1% (+16.4 y/y) while output of furniture & appliances fell 1.2% (-4.0% y/y). Production of apparel also fell by 1.4% (-4.0% y/y.
Production of business equipment rose 0.9% (3.8% y/y). Output of industrial & other equipment rose 1.0% (1.4% y/y) and information processing & related equipment output increased 0.7% (7.9% y/y) for the second consecutive month.
Capacity utilization rose to 81.9%from 81.8% in June as capacity rose 0.1% (2.1% y/y).
How Accurate Are Real-Time Estimates of Output Trends and Gaps? from the Federal Reserve Bank of Richmond can be found here.
| INDUSTRIAL PRODUCTION (SA) | July | June | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total | 0.3% | 0.6% | 1.4% | 4.0% | 3.2% | 2.5% |
| Manufacturing | 0.6% | 0.6% | 2.0% | 4.7% | 3.9% | 2.9% |
| Mining | 0.7% | 0.4% | 0.4% | 2.7% | -1.6% | -0.6% |
| Utilities | -2.1% | 0.2% | -2.7% | 0.2% | 2.0% | 1.4% |
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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