Updated: 16-Nov-22 09:48 ET
| October Industrial Production |
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| Updated: 16-Nov-22 09:48 ET |
Highlights
- Total industrial production decreased 0.1% month-over-month in October (Briefing.com consensus 0.0%) following a downwardly revised 0.1% increase (from 0.4%) in September.
- The capacity utilization rate dropped to 79.9% (Briefing.com consensus 80.3%) from a downwardly revised 80.1% (from 80.3%) in September.
Key Factors
- Manufacturing output increased 0.1% after increasing a downwardly revised 0.2% (from 0.4%) in September. Motor vehicle assemblies increased 3.4% month-over-month to a seasonally adjusted annual rate of 11.07 million units.
- Mining production jumped 0.4% following a 0.7% increase in September.
- The output of utilities declined 1.5% after declining 1.7% in September.
- Total industrial production was up 3.3% yr/yr. The capacity utilization rate of 79.9% was 0.3 percentage point above its long-run average.
Big Picture
- The key takeaway from the report is that industrial output is largely stalling with declines in four of the last six months (May -0.1%; June -0.1%; July +0.7%; August -0.1%; September +0.1%; and October -0.1%).
| Category | OCT | SEP | AUG | JUL | JUN |
| Industrial Production | |||||
| Total Index | -0.1% | 0.1% | -0.1% | 0.7% | -0.1% |
| Manufacturing | 0.1% | 0.2% | 0.1% | 0.5% | -0.6% |
| Utilities | -1.5% | -1.7% | -1.3% | 0.4% | 0.3% |
| Mining | -0.4% | 0.7% | -0.2% | 1.4% | 1.7% |
| Capacity Utilization | |||||
| Total Industry | 79.9% | 80.1% | 80.0% | 80.2% | 79.8% |
| Manufacturing | 79.5% | 79.5% | 79.3% | 79.3% | 79.0% |
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