by Calculated Threat on 11/15/2024 09:15:00 AM
Earlier from the Fed: Industrial Manufacturing and Capability Utilization
Industrial manufacturing (IP) decreased 0.3 p.c in October after declining 0.5 p.c in September. A strike at a serious producer of civilian plane held down whole IP progress by an estimated 0.3 proportion level in September and 0.2 proportion level in October. Hurricane Milton and the lingering results of Hurricane Helene collectively lowered October IP progress 0.1 proportion level. In October, manufacturing output moved down 0.5 p.c, the index for mining rose 0.3 p.c, and the index for utilities gained 0.7 p.c. At 102.3 p.c of its 2017 common, whole IP in October was 0.3 p.c beneath its year-earlier stage. Capability utilization moved right down to 77.1 p.c in October, a fee that’s 2.6 proportion factors beneath its long-run (1972–2023) common.
emphasis added
Click on on graph for bigger picture.
This graph exhibits 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 77.1% is 2.6% beneath the common from 1972 to 2023. This was beneath consensus expectations.
Observe: y-axis does not begin at zero to raised present the change.
The second graph exhibits industrial manufacturing since 1967.
Industrial manufacturing decreased to 102.3. That is above the pre-pandemic stage.
Industrial manufacturing was beneath consensus expectations.
The Boeing strike and hurricanes impacted the report this month.
