Updated: 16-May-23 09:48 ET
| April Industrial Production |
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| Updated: 16-May-23 09:48 ET |
Highlights
- Total industrial production increased 0.5% month-over-month in April (Briefing.com consensus 0.0%) following a downwardly revised 0.0% (from 0.4%) in March.
- The capacity utilization rate jumped to 79.7%(Briefing.com consensus 79.8%) from a downwardly revised revised 79.4% (from 79.8%) in March.
Key Factors
- Manufacturing output increased 1.0% following a downwardly revised 0.8% decline (from -0.5%) in March. Motor vehicle assemblies surged 13.7% to a seasonally adjusted annual rate of 11.40 million units from 10.03 million in March. Manufacturing capacity utilization rose to 78.3% from a downwardly revised 77.6% (from 78.1%) in March.
- Mining production increased 0.6% following a 1.3% decline in March. Mining capacity utilization increased to 91.8% from 91.2%.
- The output of utilities declined 3.1% on reduced demand for heating after increasing 8.4% in March. Utilities capacity utilization decreased to 72.7% from 75.3%.
- Total industrial production was up 0.2% yr/yr. The capacity utilization rate of 79.7% was equal to its long-run average.
Big Picture
- The key takeaway from the report is that manufacturing output bounced back in April, paced by a strong gain in the output of motor vehicles and parts that still defies a hard-landing scenario for the economy.
| Category | APR | MAR | FEB | JAN | DEC |
| Industrial Production | |||||
| Total Index | 0.5% | 0.0% | 0.0% | 1.0% | -1.5% |
| Manufacturing | 1.0% | -0.8% | 0.3% | 1.6% | -2.1% |
| Utilities | -3.1% | 8.4% | -0.8% | -7.2% | 3.2% |
| Mining | 0.6% | -1.3% | -0.7% | 4.0% | -1.9% |
| Capacity Utilization | |||||
| Total Industry | 79.7% | 79.4% | 79.5% | 79.6% | 78.9% |
| Manufacturing | 78.3% | 77.6% | 78.4% | 78.2% | 77.1% |
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