EmailEconomic
Last Update: 16-Jul-19 09:54 ET
Industrial Production
Highlights
- Industrial production was unchanged in June (Briefing.com consensus +0.2%) after increasing an unrevised 0.4% in May.
- The total industry capacity utilization rate fell to 77.9% (Briefing.com consensus 78.2%) from an unrevised 78.1% in May.
Key Factors
- Manufacturing production increased 0.4% m/m.
- Mining output rose 0.2% m/m.Utilities output declined 3.6% m/m.
- Total motor vehicle assemblies ran at a seasonally adjusted annual rate of 11.63 million units versus 11.10 million in May.
- On a yr/yr basis, total industrial production was up a modest 1.3%. The capacity utilization rate of 77.9% stands 1.9 percentage points below its long-run average.
Big Picture
- The key takeaway from the report is that factory production declined at an annual rate of 2.2% in the second quarter, which was roughly the same pace as in the first quarter.
| Category | JUN | MAY | APR | MAR | FEB |
|---|---|---|---|---|---|
| Industrial Production | |||||
| Total Index | 0.0% | 0.4% | -0.5% | 0.1% | -0.5% |
| Manufacturing | 0.4% | 0.2% | -0.7% | 0.0% | -0.5% |
| Utilities | -3.6% | 2.4% | -3.3% | 1.7% | 0.7% |
| Mining | 0.2% | 0.2% | 2.6% | -0.4% | -1.1% |
| Capacity Utilization | |||||
| Total Industry | 77.9% | 78.1% | 77.9% | 78.4% | 78.5% |
| Manufacturing | 75.9% | 75.6% | 75.6% | 76.2% | 76.3% |
