- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
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|