- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
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)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller March 16, 2016
Industrial output declined 0.5% (-1.0% y/y) last month following a 0.8% increase during January, revised from 0.9%. A 0.3% decline had been expected in the Action Economics Forecast Survey.
The decline in oil prices pulled down output in the mining sector by 1.5% (-10.0% y/y) last month. It has fallen 12.9% since the peak in December 2014. Warm weather reduced utility output 4.0%, and it is down 9.2% from the peak in February 2015.
Factory sector production improved 0.2% (1.8% y/y) following an unrevised 0.5% rise. In the durable goods sector, production rose 0.4% (1.6% y/y) for the second straight month. Machinery production jumped 0.8% (-4.4% y/y), up for the first month in six. Primary metals output also rose 0.8% (-3.6% y/y), up for the first month in four. To the downside was motor vehicle & parts production by 0.1% (9.2% y/y), but that followed a 3.5% rise. Electrical equipment production strengthened 0.6% (7.4% y/y).
In the nondurable goods sector, industrial production eased 0.1% (+2.0% y/y) following a 0.8% rise. Textile mill output fell 1.4% (+1.8% y/y) after a 1.3% increase. Food, beverage & tobacco production fell 0.8% (+2.2% y/y) and also reversed the January gain. Offsetting these declines was a 2.9% rise (-3.8% y/y) in apparel production which mostly reversed a 3.5% January increase. Petroleum & coal production gained 2.5% (2.9% y/y) after a 0.6% rise. Chemical production was little changed (2.2% y/y).
In the subcategory groupings, high technology product production eased 0.1% (+1.4% y/y) following two firm increases. Computer & office equipment production declined 0.9% (1.8% y/y) after a 9.9% jump. Communications equipment production fell 0.4% (+3.7% y/y) following a 0.7% easing. Total factory output excluding both the auto & high technology sectors rose 0.2% (1.2% y/y) on the heels of a 0.3% rise.
Capacity utilization declined to 76.7%, down from 79.0% in December 2014. Factory sector utilization held steady m/m at 76.1%, and its been moving sideways since the end of 2014. Industry capacity rose 1.2%y/y while factory sector capacity also improved 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)||Feb||Jan||Dec||Feb Y/Y||2015||2014||2013|
|Capacity Utilization (%)||76.7||77.1||76.5||78.4||77.8||78.1||76.7|