by Calculated Danger on 8/15/2024 09:15:00 AM
From the Fed: Industrial Manufacturing and Capability Utilization
Industrial manufacturing fell 0.6 p.c in July after rising 0.3 p.c in June. Early July shutdowns concentrated within the petrochemical and associated industries on account of Hurricane Beryl held down the expansion of business manufacturing by an estimated 0.3 proportion level. Manufacturing output stepped down 0.3 p.c because the index for motor autos and components fell almost 8 p.c; manufacturing excluding motor autos and components rose 0.3 p.c. The index for mining moved sideways whereas the index for utilities decreased 3.7 p.c. At 102.9 p.c of its 2017 common, complete industrial manufacturing in July was 0.2 p.c under its year-earlier stage. Capability utilization moved all the way down to 77.8 p.c in July, a price that’s 1.9 proportion factors under its long-run (1972–2023) common.
emphasis added
Click on on graph for bigger picture.
This graph reveals Capability Utilization. This collection is up from the file low set in April 2020, and above the extent in February 2020 (pre-pandemic).
Capability utilization at 77.8% is 1.9% under the typical from 1972 to 2022. This was under consensus expectations.
Word: y-axis does not begin at zero to higher present the change.
The second graph reveals industrial manufacturing since 1967.
Industrial manufacturing decreased to 102.9. That is above the pre-pandemic stage.
Industrial manufacturing was under consensus expectations.
