Updated: 17-Feb-21 10:21 ET
| January Industrial Production |
 |
|
| Updated: 17-Feb-21 10:21 ET |
Highlights
- Industrial production increased 0.9% m/m in January (Briefing.com consensus 0.6%) following a downwardly revised 1.3% increase (from 1.6%) in December.
- The capacity utilization rate jumped to 75.6% (Briefing.com consensus 74.9%) from an upwardly revised 74.9% (from 74.5%) in December.
Key Factors
- Manufacturing output rose 1.0%, marking the ninth straight monthly gain. Motor vehicle assemblies decreased 2.4% m/m to a seasonally adjusted annual rate of 10.76 million units.
- The output of utilities dropped 1.2%.
- Mining production increased 2.3% on top of a 4.9% increase in December.
- The industrial production index was 1.8% lower than a year ago.
- The capacity utilization rate is 4.0% below its long-run (1972-2020) average.
Big Picture
- he key takeaway from the report is the continued strength in manufacturing output, which occurred despite a decline in the index for motor vehicles and parts attributed to a shortage in semiconductors used in vehicle components.
| Category | JAN | DEC | NOV | OCT | SEP |
| Industrial Production | |||||
| Total Index | 0.9% | 1.3% | 0.9% | 1.1% | -0.1% |
| Manufacturing | 1.0% | 0.9% | 1.0% | 1.5% | 0.0% |
| Utilities | -1.2% | 4.9% | -3.1% | 2.1% | -2.2% |
| Mining | 2.3% | 0.7% | 3.4% | -1.8% | 0.8% |
| Capacity Utilization | |||||
| Total Industry | 75.6% | 74.9% | 73.9% | 73.3% | 72.4% |
| Manufacturing | 74.6% | 73.9% | 73.2% | 72.4% | 71.3% |
|
|