- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- 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 October 17, 2016
Industrial output nudged 0.1% higher (-1.0% y/y) during September following a 0.5% August decline, revised from -0.4%. The increase matched expectations in the Action Economics Forecast Survey.
Factory sector production increased 0.2% last month following a 0.5% decline, revised from -0.4%. Despite the gain, manufacturing output was unchanged y/y. Consumer goods production rose 0.2% (0.9% y/y) and reversed the prior month's decline. In the durable goods sector, furniture & appliance production rose 0.3% (-2.3% y/y) following declines in six of the prior seven months. Motor vehicle & parts production gained 0.2% (5.0% y/y). Appliance & electrical equipment production edged 0.1% higher (0.8% y/y) after two months of decline. In the nondurable goods area, apparel output increased 0.9% (-8.1% y/y), and chemical production rose 0.5% (0.7% y/y). Paper output improved 0.1% (-2.5% y/y). In the capital goods sector, production eased 0.2% (-1.5% y/y) after a 0.5% drop. Transit equipment production fell 0.6% (-4.2% y/y), and information processing equipment remained unchanged (+3.3% y/y). Construction supplies production gained 0.8% (1.3% y/y).
In the materials sector, a 0.2% output decline (-2.3% y/y) reflected a 0.3% fall (-0.8% y/y) in durables and a 0.5% rise 0.1% y/y) in nondurables.
Utilities output fell 1.0% (-0.5% y/y) while mining output improved 0.4% (-9.4% y/y).
In the special industrial output groupings, computers, communications equipment & semiconductor output rose 0.6% (3.8% y/y). Communications equipment output increased 0.2% (8.0% y/y). Overall factory sector production excluding both the high-tech and automotive sectors rose 0.2% (-0.6% y/y) following a 0.7% decline.
Capacity utilization improved to 75.4%. It has been moving sideways this year following a decline from the 2014 peak of 78.9%. Factory sector utilization also rose to 74.9%, but remained below the 2014 peak of 76.3%.
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.
Macroeconomic Research After the Crisis from Fed Chair Janet L. Yellen is available here.
|Industrial Production (SA, % Change)||Sep||Aug||Jul||Sep Y/Y||2015||2014||2013|
|Capacity Utilization (%)||75.4||75.3||75.8||76.4||76.7||78.2||76.9|