- 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
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by Tom Moeller November 16, 2016
Industrial output was steady during October (-0.9% y/y) following a 0.2% September decline, revised from a 0.1% increase. An August decline of 0.1% was revised from -0.5%. The unchanged October reading disappointed expectations for a 0.2% rise in the Action Economics Forecast Survey.
Factory sector production increased 0.2% last month (-0.2% y/y), the same as in September. Consumer goods production fell 0.2% (+0.5% y/y) after a 0.1% easing. In the durable goods sector, computers and video & audio equipment production jumped 1.7% (-3.0% y/y) after two consecutive 2.3% declines. Furniture & appliance production rose 0.8% (0.5% y/y) following a 0.5% rise. Motor vehicle & parts production gained 0.9% (5.0% y/y). In the nondurable goods area, clothing output declined 0.5% (-5.1% y/y), but chemical production rose 0.7% (-1.9% y/y). Paper output improved 0.7% (-1.9% y/y). In the capital goods sector, production increased 0.2% (-0.2% y/y) after two slight monthly declines. Transit equipment production fell 0.2% (-3.3% y/y), but information processing equipment increased 1.1% (6.4% y/y). Construction supplies production gained 0.6% (-0.5% y/y).
In the materials sector, a 0.2% output increase (-1.7% y/y) reflected a 0.7% rise (-0.8% y/y) in durables and a 0.3% decline (-0.5% y/y) in nondurables.
Utilities output fell 2.6% (-0.1% y/y) but mining output increased 2.1% (-7.0% y/y).
In the special industrial output groupings, computers, communications equipment & semiconductor output rose 1.0% (6.7% y/y). Computer & peripheral equipment output gained 3.3% (13.0% y/y) but communications equipment output fell 0.4% (+17.4% y/y). Overall factory sector production excluding both the high-tech and automotive sectors rose 0.1% (-0.6% y/y) following a 0.2% rise.
Capacity utilization eased to 75.3%. 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.
|Industrial Production (SA, % Change)||Oct||Sep||Aug||Oct Y/Y||2015||2014||2013|
|Capacity Utilization (%)||75.3||75.4||75.6||76.3||76.7||78.2||76.9|