Updated: 17-Oct-17 09:42 ET
| September Industrial Production |
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| Updated: 17-Oct-17 09:42 ET |
Highlights
- Industrial production increased 0.3% in September (Briefing.com consensus +0.2%) on the heels of an upwardly revised 0.7% decline (from -0.9%) for August.
- The capacity utilization rate increased to 76.0% (Briefing.com consensus 76.1%) from a downwardly revised 75.8% (from 76.1%) for August.
Key Factors
- Manufacturing output increased 0.1%, led by a 1.0% increase for durables that was offset by a 0.9% decrease for nondurables
- Mining output was up 0.4% following a 0.2% decline in August
- Utilities output jumped 1.5% after declining 4.9% in August
- The industrial production figure for July was revised to -0.1% from +0.4%
- On a year-over-year basis, industrial production is up 1.6%. The capacity utilization rate for September is 3.9 percentage points below its long-run average.
Big Picture
- The key takeaway from the report is that total production in September was held down by the continued effects of Hurricane Harvey and, to a lesser extent, the effects of Hurricane Irma, which combined lowered industrial production growth by 1/4 percentage point.
| Category | SEP | AUG | JUL | JUN | MAY |
| Industrial Production | |||||
| Total Index | 0.3% | -0.7% | -0.1% | 0.2% | 0.0% |
| Manufacturing | 0.1% | -0.2% | -0.4% | 0.2% | -0.6% |
| Utilities | 1.5% | -4.9% | 0.5% | -1.0% | 2.7% |
| Mining | 0.4% | -0.2% | 0.5% | 1.3% | 0.8% |
| Capacity Utilization | |||||
| Total Industry | 76.0% | 75.8% | 76.5% | 76.6% | 76.5% |
| Manufacturing | 75.1% | 75.1% | 75.3% | 75.6% | 75.5% |
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