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Main Indicator: Industrial Production
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| -0.2% | 0.1% | -0.7% | N/A | ||
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For May
Capacity Utilization:79.4% pr. 79.6% (Apr), 80.4% (Mar)
Industrial production is declining, as well as capacity utilization rate because firms are recognizing the slowdown and cutting back in production. The motor vehicle sector is dragging overall output as demand is plumetting, albeit a slight recovery in May of 1.0% increase in sales. American car companies have been relatively slow in pushing foward hybrids and fuel efficient cars. This past year has seen sharp drops in motor vehicle sales, specifically in SUVs and trucks, and especially in the American three; GM, Chrysler, and Ford. Industrial production declined 0.2 percent in May after having fallen 0.7 percent in April. Manufacturing output was unchanged in May, the output of utilities shrank 1.8 percent, and the output at mines rose 0.1 percent. Factory output was boosted by a small pickup in the index for motor vehicles and parts. The end in late May of the strike at a parts producer had little effect on vehicle output for the month; the output of motor vehicles and parts remained about 10 percent below its February level. Excluding motor vehicles and parts, manufacturing production edged down 0.1 percent after having decreased 0.5 percent in April. At 110.9 percent of its 2002 average, overall industrial production was 0.1 percent below its year-earlier level. The rate of capacity utilization for total industry declined 0.2 percentage point, to 79.4 percent, a level 1.6 percentage points below its average for 1972-2007. |
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Table of Past Data
| 9/14 | 10/16 | 11/16 | 12/14 | 1/16 | 2/15 | 3/17 | 4/16 | 5/15 | 6/17 | ||
| Actual | 0.2% | 0.1% | -0.5% | 0.3% | 0.0% | 0.1% | -0.5% | 0.3% | -0.7% | -0.2% | |
| Forecast | 0.3% | 0.1% | 0.1% | 0.1% | -0.1% | 0.1% | -0.1% | -0.1% | -0.3% | 0.1% | |
| Previous | 0.5% | 0.0% | 0.2% | -0.7% | 0.3% | 0.1% | 0.1% | -0.7% | 0.2% | -0.7% | |
| Revised From | 0.3% | 0.2% | 0.1% | -0.5% | N/A | 0.0% | N/A | -0.5% | 0.3% | N/A | |
Secondary Indicator: Capacity Utilization Rate
Most Recent Release
|
Actual | Forecast | Previous | Revised Form | |
| 79.6% | 79.3% | 79.4% | N/A |
Table of Past Data
| 10/16 | 11/16 | 12/14 | 1/16 | 2/15 | 3/17 | 4/16 | 5/15 | 6/17 | 7/16 | ||
| Actual | 82.1% | 81.7% | 81.5% | 81.4% | 81.5% | 80.9% | 80.5% | 79.7% | 79.4% | 79.6% | |
| Forecast | 82.2% | 82.0% | 81.7% | 81.2% | 81.4% | 81.3% | 80.3% | 80.1% | 79.7% | 79.3% | |
| Previous | 82.1% | 82.2% | 81.4% | 81.5% | 81.5% | 81.5% | 80.3% | 80.4% | 79.6% | 79.4% | |
| Revised From | 82.2% | 82.1% | 81.7% | N/A | 81.4% | N/A | 80.4% | 80.5% | 79.7% | N/A | |
Past Releases
Capacity Utilization Rate
|
Actual | Forecast | Previous | Revised Form | |
| 79.4% | 79.7% | 79.6% | 79.7% | ||
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For May See "Industrial Production" |
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Actual | Forecast | Previous | Revised Form | |
| -0.7% | -0.3% | 0.2% | 0.3% | ||
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For April
Capacity Utilization: 79.9%, forecast 80.1%, pr. 80.4% Industrial production fell by more than expected in April, declining 0.7% on the month. That figure was two times lower than the consensus forecast of a 0.3% fall. Weaker consumer spending due to the US slowdown caused car manufacturers to cut back production the data showed. Excluding motor vehicles and parts, production was still 0.4% lower than in March. Capacity Utilization, the proportion of plants in use, fell to 79.7%. With several factors such as the deep housing recession, soaring energy and food prices, and higher credit costs are sapping the strength of American consumers and firms, it is foreign demand that is propping up production, without which the total would be even weaker. The low value of the Dollar is helping that trend. Two regional measures of manufacturing, the Philly Fed Manufacturing Index and the NY Empire Manufacturing Index were both in negative territory, at -15.6 and -3.2 respectively. Summary from the Release: "Industrial production declined 0.7 percent in April after having risen 0.2 percent in March. Manufacturing output fell 0.8 percent in April. As was the case in March, factory output in April was held down by a large drop in the index for motor vehicles and parts; strikes and strike-related parts shortages resulted in suspended production at many facilities. Excluding motor vehicles and parts, manufacturing production fell back 0.4 percent after having increased 0.3 percent in March. In April, the output of utilities rose 0.3 percent, and the output at mines decreased 0.8 percent. At 111.2 percent of its 2002 average, overall industrial production was 0.2 percent above its year-earlier level. The rate of capacity utilization for total industry declined 0.7 percentage point, to 79.7 percent, a level 1.3 percentage points below its average for 1972-2007." |
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Actual | Forecast | Previous | Revised Form | |
| 79.7% | 80.1% | 80.4% | 80.5% |
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Actual | Forecast | Previous | Revised Form | |
| 0.3% | -0.1% | -0.7% | -0.5% | ||
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For March
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." |
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Actual | Forecast | Previous | Revised Form | |
| 80.5% | 80.3% | 80.3% | 80.4% |
|
Actual | Forecast | Previous | Revised Form | |
| -0.5% | -0.1% | 0.1% | N/A | ||
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For February
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.
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Actual | Forecast | Previous | Revised Form | |
| 80.9% | 81.3% | 81.5% | N/A | ||
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For February
Release from Federal Reserve |
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Actual | Forecast | Previous | Revised Form | |
| 0.1% | 0.1% | 0.1% | 0.0% | ||
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For January
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Actual | Forecast | Previous | Revised Form | |
| 81.5% | 81.4% | 81.5% | 81.4% | ||
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For January
See "Industrial Production" |
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Actual | Forecast | Previous | Revised Form | |
| 0.0% | -0.1% | 0.3% | N/A | ||
| For December. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 81.4% | 81.2% | 81.5% | N/A | ||
| For December. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 0.3% | 0.1% | -0.7% | -0.5% | ||
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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. |
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Actual | Forecast | Previous | Revised Form | |
| 81.5% | 81.7% | 81.4% | 81.7% | ||
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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. |
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|
Actual | Forecast | Previous | Revised Form | |
| -0.5% | 0.1% | 0.2% | 0.1% |
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Actual | Forecast | Previous | Revised Form | |
| 81.7% | 82.0% | 82.2% | 82.1% |
|
Actual | Forecast | Previous | Revised Form | |
| 0.1% | 0.1% | 0.0% | 0.2% |
|
Actual | Forecast | Previous | Revised Form | |
| 82.1% | 82.2% | 82.1% | 82.2% |
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Actual | Forecast | Previous | Revised Form | |
| 0.2% | 0.3% | 0.5% | 0.3% | ||
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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. |
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