- Japan: **Japan Tokyo employment index rebased to 2015=100**
- Saudi Arabia: Non-Oil Foreign Trade (Feb); Kuwait: CPI (Mar); Tanzania: BOP, Trade, Depository Corporations Survey, Public Finance (Feb)
- Portugal: OMFIs Balance Sheet (Feb)
- Luxembourg: Employment and Unemployment (Mar)
- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans and Deposits, Monetary Aggregates, Banking System Surveys, Public Finance (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller May 17, 2016
Industrial output increased 0.7% during April (-1.1% y/y) following declines in six of the prior seven months. It was the largest increase since November 2014. A 0.3% rise in output had been expected in the Action Economics Forecast Survey.
A 5.8% increase in utility output (0.4% y/y) led last month's increase in total production. Natural gas output rebounded 9.3% (-0.5% y/y), while electric power generation jumped 5.4% (0.5% y/y). Mining sector production offset some of these increases, however, with a 2.3% fall (-13.4% y/y).
Factory sector production recovered 0.3% last month (0.4% y/y) following an unrevised 0.3% drop. Consumer goods production jumped 1.2% (1.3% y/y) as motor vehicle output & parts output recovered 1.3% (4.3% y/y) after a 1.4% drop. Electrical equipment production declined 0.9% (-0.5% y/y), but machinery output jumped 2.4% (-3.8% y/y). Computer & electronic product production rose 0.2% (3.0% y/y).
In the nondurable goods sector, petroleum & coal production declined 3.4% (+2.2% y/y), and chemical output eased 0.3% (+1.0% y/y). Apparel output declined 2.3% (-8.3% y/y) while paper product production remained unchanged (-2.5% y/y).
In the subcategory groupings, output of high technology products edged 0.1% higher (2.4% y/y) as semiconductor production increased 1.3% (0.3% y/y). Computer & office equipment production fell 0.8% (-4.0% y/y). Communications equipment eased 0.6% (+11.4% y/y). Overall factory sector production excluding the high-tech & motor vehicle sectors recovered 0.2% after a 0.2% fall, and was unchanged y/y.
Capacity utilization increased to 75.4% last month from 74.9%, revised from 74.8%. That remained down from 78.9% in November 2014. Factory sector utilization improved to 75.3%, but was down from the 2014 high of 76.3%. Industry capacity rose 1.0% y/y while factory sector capacity improved 0.8% 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)||Apr||Mar||Feb||Apr Y/Y||2015||2014||2013|
|Capacity Utilization (%)||75.4||74.9||75.6||76.9||76.7||78.2||76.9|