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Industrial Production
Measures all industrial production.

Main Indicator: Industrial Production

Most Recent Release

April
16th, 2008
Actual Forecast Previous Revised Form
0.3% -0.1% -0.7% -0.5%

For March
Provided by: Federal Reserve

Industrial production recovered in March rising 0.3%, reversing some of February's losses. The data beat forecasts, and helped the Dollar come off its all time high, set after the US's earlier releases. The unexpected rise was led by an increase in output of electric and natural gas utilities. The capacity utilization rate, a measure of the proportion of factories in use, increased to 80.5%.

From the Release:

"Industrial production rose 0.3 percent in March after having dropped 0.7 percent in February. For the first quarter as a whole, output declined at an annual rate of 0.1 percent after edging up at a rate of 0.4 percent in the fourth quarter of last year. Manufacturing production rose 0.1 percent in March. Factory output was held down by a large decline in the output of motor vehicles and parts; a shortage of motor vehicle parts that resulted from a strike at a parts manufacturer idled a number of motor vehicle assembly plants. Outside of motor vehicles and parts, manufacturing production moved up 0.4 percent after having fallen 0.5 percent in February. In March, the output of mines increased 0.9 percent, and the output of utilities advanced 1.9 percent. At 112.1 percent of its 2002 average, total industrial production was 1.6 percent above its year-earlier level. The capacity utilization rate for total industry in March rose 0.2 percentage point, to 80.5 percent."

Table of Past Data

6/157/179/1410/1611/1612/141/162/153/174/16
Actual0.0%+0.5%0.2%0.1%-0.5%0.3%0.0%0.1%-0.5%0.3%
Forecast0.10%+0.4%0.3%0.1%0.1%0.1%-0.1%0.1%-0.1%-0.1%
Previous0.40%-0.1%0.5%0.0%0.2%-0.7%0.3%0.1%0.1%-0.7%
Revised From0.70%0.0%0.3%0.2%0.1%-0.5%N/A0.0%N/A-0.5%

Secondary Indicator: Capacity Utilization Rate

Most Recent Release

May
15th, 2008
Actual Forecast Previous Revised Form
79.7% 80.1% 80.4% 80.5%

Table of Past Data

8/159/1410/1611/1612/141/162/153/174/165/15
Actual81.9%82.2%82.1%81.7%81.5%81.4%81.5%80.9%80.5%79.7%
Forecast81.8%82.0%82.2%82.0%81.7%81.2%81.4%81.3%80.3%80.1%
Previous81.8%82.2%82.1%82.2%81.4%81.5%81.5%81.5%80.3%80.4%
Revised From81.7%81.9%82.2%82.1%81.7%N/A81.4%N/A80.4%80.5%

Past Releases

Capacity Utilization Rate
April
16th, 2008
Actual Forecast Previous Revised Form
80.5% 80.3% 80.3% 80.4%
Industrial Production
March
17th, 2008
Actual Forecast Previous Revised Form
-0.5% -0.1% 0.1% N/A

For February
Release from Federal Reserve
Official Release: PDF

Industrial production was down 0.5% in the US in February, a larger fall than expected. All signs are pointing to the fact that the US has already entered a recession. Production was negative for the first time in four months. Also, capacity utilization, which measures the proportion of plants in use, fell to 80.9%, the lowest since November 2005. Exports had been propping up US manufacturing (which account for 4/5ths of industrial production), but as Americans spend less, foreign demand may not be enough to skirt manufacturing from falling into recessionary territory. Today's Empire Manufacturing Index painted a similar bleak picture for the manufacturing sector.

"Industrial production fell 0.5 percent in February after having increased 0.1 percent in January. Much of the decrease in February resulted from a weather-related drop of 3.7 percent in the output of utilities. In the manufacturing sector, output decreased 0.2 percent in February, and declines were fairly widespread across industries. The output of mines moved up 0.4 percent. At 113.7 percent of its 2002 average, total industrial production was 1.0 percent above its year-earlier level. The capacity utilization rate for total industry in February fell 0.6 percentage point, to 80.9 percent, the lowest rate since November 2005."

Capacity Utilization Rate
March
17th, 2008
Actual Forecast Previous Revised Form
80.9% 81.3% 81.5% N/A
For February
Release from Federal Reserve
Industrial Production
February
15th, 2008
Actual Forecast Previous Revised Form
0.1% 0.1% 0.1% 0.0%

For January
Release from Federal Reserve
Official Release: PDF

"Industrial production increased 0.1 percent in January for a second consecutive month. Output in the manufacturing sector was unchanged in January, as lower output of motor vehicles and parts offset a small net gain elsewhere. The output of utilities climbed 2.2 percent, while the output of mines moved down 1.8 percent. At 114.2 percent of its 2002 average, overall industrial production was 2.3 percent above its January 2007 level. The rate of capacity utilization in January was unchanged, at 81.5 percent, a rate 0.4 percentage point above its year-earlier level and 0.5 percentage point above its 1972-2007 average."

Capacity Utilization Rate
February
15th, 2008
Actual Forecast Previous Revised Form
81.5% 81.4% 81.5% 81.4%

For January
Release from Federal Reserve
Official Release: PDF

See "Industrial Production"

Industrial Production
January
16th, 2008
Actual Forecast Previous Revised Form
0.0% -0.1% 0.3% N/A
For December.
Capacity Utilization Rate
January
16th, 2008
Actual Forecast Previous Revised Form
81.4% 81.2% 81.5% N/A
For December.
Industrial Production
December
14th, 2007
Actual Forecast Previous Revised Form
0.3% 0.1% -0.7% -0.5%
For November
Release from Federal Reserve Statistical Release: Industrial Production and Capacity Utilization

Industrial output edged up to 113.9 and was better than expected for November, but was revised down for October. The change for the previous 3 months was modest 0.1% per month. Business equipments had the largest drop in production for November. Year over year for November total output is 2.1% higher.

The manufacturing sector produced 0.4% more in November than it did in October.
Capacity Utilization Rate
December
14th, 2007
Actual Forecast Previous Revised Form
81.5% 81.7% 81.4% 81.7%
For November
Release from Federal Reserve Statistical Release: Industrial Production and Capacity Utilization

The percent of capacity being used in production edged up from a downwardly revised October figure. Mining industries are operating at the highest capacity at 92.3 and are historically the highest. Manufacturing capacity is operating at about its historical average with 79.9% for November.
Industrial Production
November
16th, 2007
Actual Forecast Previous Revised Form
-0.5% 0.1% 0.2% 0.1%
Capacity Utilization Rate
November
16th, 2007
Actual Forecast Previous Revised Form
81.7% 82.0% 82.2% 82.1%
Industrial Production
October
16th, 2007
Actual Forecast Previous Revised Form
0.1% 0.1% 0.0% 0.2%
Capacity Utilization Rate
October
16th, 2007
Actual Forecast Previous Revised Form
82.1% 82.2% 82.1% 82.2%
Industrial Production
September
14th, 2007
Actual Forecast Previous Revised Form
0.2% 0.3% 0.5% 0.3%
Industrial Production increased 0.2% last month, following an upwardly revised 0.5% gain in July, according to the Federal Reserve, while manufacturing registered a monthly decrease of 0.3%. manufacturing accounts for nearly four-fifths of total US production.

Overall industrial production year-over-year was 1.7%, while manufacturing output also rose 1.7% y/y.
Capacity Utilization Rate
September
14th, 2007
Actual Forecast Previous Revised Form
82.2% 82.0% 82.2% 81.9%
The Capacity Utilization of US industry remained steady at 82.2% in August. July’s capacity utilization was revised up to 82.2% from 81.9% and is running about 1% higher than the longer term average (81.0% for 1972-2006).
Capacity Utilization Rate
August
15th, 2007
Actual Forecast Previous Revised Form
81.9% 81.8% 81.8% 81.7%
Q2/2007 - 1st release. Capacity is above average, and continued to firm, surprising market expectations a bit.
Industrial Production
July
17th, 2007
Actual Forecast Previous Revised Form
+0.5% +0.4% -0.1% 0.0%
Manufacturing sector production climbed 0.6% with a 0.8% increase in output of durable goods. Manufacturing of motor vehicles jumped 2.5%. The mining and utilities indexes gained 0.5% and 0.3% respectively, according to the Federal Reserve Statistical Release. The construction market group gained a healthy 1.0% although it is the only major subgroup to be negative on the year. (-1.5%). On the year, the June overall production output rose 1.4%.
Industrial Production
June
15th, 2007
Actual Forecast Previous Revised Form
0.0% 0.10% 0.40% 0.70%
The output of utilities kept industrial production flat. The unusually cold temperature caused utilities production to fall 1.3%. Manufacturing production inched up 0.1%.

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