by Calculated Threat on 5/16/2024 09:15:00 AM
From the Fed: Industrial Manufacturing and Capability Utilization
Industrial manufacturing was little modified in April. Manufacturing output decreased 0.3 p.c; excluding motor autos and components, manufacturing output edged down 0.1 p.c. The index for mining fell 0.6 p.c, and the index for utilities rose 2.8 p.c. At 102.8 p.c of its 2017 common, whole industrial manufacturing in April was 0.4 share level decrease than its year-earlier degree. Capability utilization moved all the way down to 78.4 p.c in April, a charge that’s 1.2 share factors beneath 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 78.4% is 1.2% beneath the typical from 1972 to 2022. This was at consensus expectations.
Be aware: y-axis does not begin at zero to higher present the change.
The second graph reveals industrial manufacturing since 1967.
Industrial manufacturing was unchanged at 102.8. That is above the pre-pandemic degree.
Industrial manufacturing was beneath consensus expectations.
