- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller January 15, 2016
Overall industrial output declined 0.4% during December following a 0.9% November fall, revised from -0.6%. It was the third consecutive monthly decline and lessened the 2015 increase to 1.3%, its weakest rise in six years. The Action Economics Forecast Survey expected a 0.3% fall.
A 2.0% decline (-7.6% y/y) in utility output accounted for most of last month's shortfall in production. Mining output also eased 0.8% (-11.3% y/y), down for the fourth straight month.
Manufacturing sector production fell 0.1% (+0.8% y/y) for the fourth month in the last five. The 2.0% full year increase was the weakest rise since 2013. Consumer products output fell 0.8% (+0.3% y/y), pulled down by a 1.7% drop (+3.7% y/y) in motor vehicle production. Furniture production fell 0.9% (+1.7% y/y) and machinery production declined 0.5% (-3.0% y/y). In the nondurable goods sector, chemical output was off 0.5% (+1.2% y/y) and apparel production declined 0.3% (-7.0% y/y). Materials production eased 0.3% (-3.1% y/y).
In the special aggregate series, output of high technology products gained 1.4% (1.7% y/y). Output of computers increased 3.0% (8.1% y/y) and bounced back after November's drop. Communications equipment production increased 0.1% (-6.4% y/y) for the second straight month. Overall production excluding the transportation & high technology sectors fell 0.4% (-2.2% y/y), off for the fourth consecutive month. Factory output excluding autos & high tech was unchanged for a second month (+0.5% y/y).
Capacity utilization fell to 76.5%, the lowest rate since July 2013. In the factory sector, the capacity utilization rate eased to 76.0%, the lowest level in six months. Overall industry capacity rose 1.5% y/y while in factory sector it gained (1.2% 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.
|Industrial Production (SA, % Change)||Dec||Nov||Oct||Dec Y/Y||2015||2014||2013|
|Capacity Utilization (%)||76.5||76.9||77.7||79.0||77.8||78.1||76.7|