EmailEconomic
Last Update: 15-Aug-18 10:06 ET
Industrial Production
Highlights
- Industrial production increased 0.1% in July (Briefing.com consensus +0.4%) following an upwardly revised 1.0% increase (from +0.6%) in June.
- The capacity utilization rate was 78.1% (Briefing.com consensus 78.3%), unchanged from June, which was revised up from a previously reported 78.0%.
Key Factors
- Manufacturing output increased 0.3% on the heels of a 0.8% increase in June, with the index for durables up 0.4% and the index for nondurables up 0.2%.
- Motor vehicle assemblies edged up to a seasonally adjusted annual rate of 11.18 million units from 11.15 million units in June.
- Mining output declined 0.3% after increasing 2.9% in June.
- Utilities output fell 0.5% after declining 0.7% in June.
- The total capacity utilization rate of 78.1% is 1.7 percentage points below its long-run (1972-2017) average.
Big Picture
- The key takeaway from the report is that it showed continued strength in manufacturing output, which offset declines in mining and utilities production.
| Category | JUL | JUN | MAY | APR | MAR |
|---|---|---|---|---|---|
| Industrial Production | |||||
| Total Index | 0.1% | 1.0% | -0.8% | 1.2% | 0.5% |
| Manufacturing | 0.3% | 0.8% | -0.9% | 0.7% | -0.1% |
| Utilities | -0.5% | -0.7% | -2.6% | 5.8% | 4.2% |
| Mining | -0.3% | 2.9% | 0.8% | 0.7% | 1.3% |
| Capacity Utilization | |||||
| Total Industry | 78.1% | 78.1% | 77.5% | 78.3% | 77.5% |
| Manufacturing | 75.9% | 75.7% | 75.2% | 76.0% | 75.6% |
