Updated: 15-Jun-17 10:08 ET
| May Industrial Production |
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| Updated: 15-Jun-17 10:08 ET |
Highlights
- Industrial Production was unchanged in May, as expected, following an upwardly revised 1.1% increase (from 1.0%) in April.
- Total industry capacity utilization dipped to 76.6% (Briefing.com consensus 76.7%) from an unrevised 76.7% in April and is running 3.3 percentage points below its long-run average.
Key Factors
- The index for manufacturing declined 0.4% after increasing 1.1% in April
- The manufacturing index was held back by a 0.8% decline in the index for durables, which saw a decline for almost all industry groups. The index for nondurables edged up 0.1%.
- The index for mining increased 1.6% on the heels of a 1.5% increase in April
- The index for utilities increased 0.4% following a 0.7% increase in April
- On a year-over-year basis, factory production has increased 1.4% while total industrial production has increased 2.2%
Big Picture
- The key takeaway from the report is that it didn't include a contribution from manufacturing output, which declined 0.4%.
| Category | MAY | APR | MAR | FEB | JAN |
| Industrial Production | |||||
| Total Index | 0.0% | 1.1% | 0.1% | 0.3% | -0.3% |
| Manufacturing | -0.4% | 1.1% | -0.8% | 0.4% | 0.4% |
| Utilities | 0.4% | 0.7% | 8.2% | -4.8% | -7.2% |
| Mining | 1.6% | 1.5% | -0.6% | 3.6% | 1.4% |
| Capacity Utilization | |||||
| Total Industry | 76.6% | 76.7% | 75.9% | 75.9% | 75.7% |
| Manufacturing | 75.5% | 75.8% | 75.0% | 75.7% | 75.4% |
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