Need To Know News

Industrial production rose 0.2% in July, beating analysts’ expectations of an unchanged reading. That followed a downwardly revised 0.4% rise in June.

Consumer goods production was up 0.3% on the back of 1% growth in durable goods output. Automotive products was up 2.5%.

Business equipment output edged up 0.8% in July, while construction supplies rose 0.3% but were down 5.3% on a y-o-y basis.

In the manufacturing sector, overall output was up 0.4%, with primary metals output up 0.8%. Motor vehicles and parts production was 3.6% higher. Petroleum and coal products output rose 1.9%.

Utilities output fell 1.9% after a 2.1% increase in June. Mining output was up 0.9%, matching the prior month’s gain.

On a y-o-y basis, industrial production is down 0.1% from Jul-07.

Meanwhile, capacity utilization rose to 79.9% from June’s downwardly revised 79.8% (previously reported as 79.9%. Crude capacity utilization rose up to 90.1% from 89.7% in June, while mining capacity use also rose. Utility capacity use fell to 84.4% from 86.2% prior.

July Industrial Production is expected to be unchanged after a 0.5% increase in June and a 0.2% decline in May. Capacity Utilization in July is expected to narrow marginally to 79.8%.

Mining production should provide the largest boost to July IP as the mining hours-worked component in the July employment report revealed a 2% increase. Mining production grew 1.1% in June following a 0.3% increase in May.

Improved auto production is also expected to provide some marginal support for July IP. Vehicle production grew 5.4% in June following a 0.6% increase in May and a 6.7% decrease in April.

Weakness in manufacturing is expected to drag on July IP as the July employment report showed continued declines in the manufacturing hours-worked component. Utilities production in July is expected to pull back from its 2.1% surge in June.

The July ISM Production Index improved to 52.9 from 51.5, which suggests a muted month in the manufacturing sector.

July Industrial Production is expected to be unchanged after a 0.5% increase in June and a 0.2% decline in May. Capacity Utilization in July is expected to narrow marginally to 79.8%.

Mining production should provide the largest boost to July IP as the mining hours-worked component in the July employment report revealed a 2% increase. Mining production grew 1.1% in June following a 0.3% increase in May.

Improved auto production is also expected to provide some marginal support for July IP. Vehicle production grew 5.4% in June following a 0.6% increase in May and a 6.7% decrease in April.

Weakness in manufacturing is expected to drag on July IP as the July employment report showrd continued declines in the manufacturing hours-worked component. Utilities production in July is expected to pull back from its 2.1% surge in June.

The July ISM Production Index improved to 52.9 from 51.5, which suggests a muted month in the manufacturing sector.

Industrial production rose 0.5% in June, beating analysts’ expectations and reversing 2 months of declines. The June figured improved from an unrevised 0.2% drop in May.

Consumer goods production was up 0.7% on the back of 2.6% growth in durable goods output. Automotive products surged 6.2%, reflecting the ramp-up of production after the American Axle strike was settled in late May.

Business equipment output edged up 0.2% in June, while construction supplies fell 0.9%.

In the manufacturing sector, overall output was up 0.2%, with primary metals output up 2.9%. Motor vehicles and parts production was 5.4% higher. Petroleum and coal products output was up 0.4%.

Utilities output rose 2.1%, boosted by warmer temperatures in June, while mining output was up 1.1%.

On a y-o-y basis, industrial production was up 0.3% vs. June-07.

Meanwhile, capacity utilization rose to 79.9% from May’s upwardly revised 79.6% (previously reported as 79.4%, which was the lowest percentage since 2004). Crude capacity utilization edged up to 89.7% from 89.6% in May, while mining and utilities capacity use also posted gains.

June Industrial Production is expected to increase 0.1% following a 0.2% decline in May. Capacity Utilization is expected to be unchanged at 79.4%.

There should be a 9% jump in auto production due to the American Axle strike ending on May 22.

Utilities should see a 2% improvement after the May data was hurt by cooler temperatures.

Manufacturing aggregate hours fell 0.5% in the June Employment report, but mining hours-worked increased 1.5%.

Also of interest, the May ISM Manufacturing Production component increased to 51.5 from 51.2.

June Industrial Production is expected to increase 0.1% following a 0.2% decline in May. Capacity Utilization is expected to be unchanged at 79.4%.

There should be a 9% jump in auto production due to the American Axle strike ending on May 22.

Utilities should see a 2% improvement after the May data was hurt by cooler temperatures.

Manufacturing aggregate hours fell 0.5% in the June Employment report, but mining hours-worked increased 1.5%.

Also of interest, the May ISM Manufacturing Production component increased to 51.5 from 51.2.

May industrial production fell 0.2% in May, below analysts’ expectations of a 0.1% increase. That followed an unrevised 0.7% decline in April. It was the first time there were 2 consecutive monthly declines in industrial production since late 2006.

Consumer goods production declined 0.2% despite the first increase in auto production this year. Home electronic production was also up and helped to offset declines in appliances and furniture, clothing and paper products. Production of business equipment was unchanged overall as a small increase in information equipment helped offset weakness in defense and transit equipment.

On a y-o-y basis, industrial production was down 0.1% from last May – the annual decline since Jun-02.

The index of manufacturing output was unchanged in May following a 0.9% decline in April but the utilities index fell 1.8%, pulling down the overall IP number. Mining showed a small 0.1% gain.

Capacity utilization was 79.4% in May, its lowest point since late 2004. Crude capacity utilization was up 1 percentage point to 89% but capacity utilization in the finished goods industries was only 75.9%.

May Industrial Production is expected to increase 0.1% (estimate range: down 0.4% to up 0.4%) following a 0.7% decline in April. Capacity Utilization is expected to be unchanged in April at 79.7%.

April Industrial Production cratered on a 8.2% decrease in vehicle production, driven by the American Axel strike. Auto production should enjoy a fervent rebound in May, when the strike was resolved, boosting total US manufacturing production after its 0.8% decline in April.

Mining production is also expected to rebound from a 0.8% decline in April. Unseasonably cool weather likely will have restrained utilities production following a 0.3% increase in April.

Manufacturing aggregate hours fell 0.2% in the May Employment report, while vehicle assembly hours worked posted a noticeable increase.

Related data:

* May ISM Manufacturing Production Index: 51.2 vs. 49.1
* May Chicago PMI 49.1 vs. 48.5 Expected
* June Empire State Index: -8.7 vs. -3.2 Prior
* April Factory Orders up 1.1%, Ex-Transports up 2.6%

May Industrial Production is expected to increase 0.1% (estimate range: down 0.4% to up 0.4%) following a 0.7% decline in April. Capacity Utilization is expected to be unchanged in April at 79.7%.

April Industrial Production cratered on a 8.2% decrease in vehicle production, driven by the American Axel strike. Auto production should enjoy a fervent rebound in May, when the strike was resolved, boosting total US manufacturing production after its 0.8% decline in April.

Mining production is also expected to rebound from a 0.8% decline in April. Unseasonably cool weather likely will have restrained utilities production following a 0.3% increase in April.

Manufacturing aggregate hours fell 0.2% in the May Employment report, while vehicle assembly hours worked posted a noticeable increase.

Related data:

* May ISM Manufacturing Production Index: 51.2 vs. 49.1
* May Chicago PMI 49.1 vs. 48.5 Expected
* June Empire State Index: -8.7 vs. -3.2 Prior
* April Factory Orders up 1.1%, Ex-Transports up 2.6%

Industrial Production fell 0.7% in Apr., more than the expected 0.3% drop and lower than the downwardly revised Mar. rise of 0.2%, previously reported as 0.3%.

Capacity utilization fell to 79.7% — below expectations — after reading 80.4% in Feb. (originally reported as 80.5%).

Based on preliminary estimates, Industrial Production edged down at a 0.2% annual rate in Q1, compared to a 0.4% annual rate of growth in Q4.

Industrial production was dragged down in Apr. by a 0.8% decline in manufacturing output. The drop was driven by a 8.2% decline in motor vehicle and parts output.

Manufacturing production was flat in Mar. (previously reported as up 0.1%).

Utilities output was up 0.3% after a downwardly revised 0.7% increase in Mar. (previously reported as a 1.9% rise). Mining output declined 0.8%.

Other sectors maintained downward trends, especially in durable goods industries, with automotive output shrinking 7.8%. FED officials cited strikes and strike-related parts shortages (American Axle) as slowing factors for that category.

Equities and the dollar aren’t going to like this data, which reflects erosion in the real economy.