- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- 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 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|