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Industrial Production Unchanged in April
From the Fed: Industrial Production and Capacity Utilization Industrial production (IP) was little changed in April as declines in manufacturing and mining output were offset by growth in utilities output. The index for manufacturing decreased 0.4 percent after increasing 0.4 percent in March. In April, manufacturing output excluding motor vehicles and parts decreased 0.3 percent. The index for mining fell 0.3 percent, and the index for utilities rose 3.3 percent. At 103.9 percent of its 2017 average, total IP in April was 1.5 percent above its year-earlier level. Capacity utilization edged down to 77.7 percent, a rate that is 1.9 percentage points below its long-run (1972–2024) average. emphasis added Click on graph for larger image. This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and close to the level in February 2020 (pre-pandemic). Capacity utilization at 77.7% is 1.9% below the average from 1972 to 2023. This was below consensus expectations. Note: y-axis doesn't start at zero to better show the change. The second graph shows industrial production since 1967. Industrial production was unchanged at 103.9. This is above the pre-pandemic level. Industrial production was slightly below consensus expectations.
From the Fed: Industrial Production and Capacity Utilization
Click on graph for larger image.
This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and close to the level in February 2020 (pre-pandemic).
Capacity utilization at 77.7% is 1.9% below the average from 1972 to 2023. This was below consensus expectations.
Note: y-axis doesn't start at zero to better show the change.
The second graph shows industrial production since 1967.
Industrial production was unchanged at 103.9. This is above the pre-pandemic level.
Industrial production was slightly below consensus expectations.
Industrial production (IP) was little changed in April as declines in manufacturing and mining output were offset by growth in utilities output. The index for manufacturing decreased 0.4 percent after increasing 0.4 percent in March. In April, manufacturing output excluding motor vehicles and parts decreased 0.3 percent. The index for mining fell 0.3 percent, and the index for utilities rose 3.3 percent. At 103.9 percent of its 2017 average, total IP in April was 1.5 percent above its year-earlier level. Capacity utilization edged down to 77.7 percent, a rate that is 1.9 percentage points below its long-run (1972–2024) average.
emphasis added
Click on graph for larger image.This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and close to the level in February 2020 (pre-pandemic).
Capacity utilization at 77.7% is 1.9% below the average from 1972 to 2023. This was below consensus expectations.
Note: y-axis doesn't start at zero to better show the change.
The second graph shows industrial production since 1967.Industrial production was unchanged at 103.9. This is above the pre-pandemic level.
Industrial production was slightly below consensus expectations.
