Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production (IP) jumped up at an annualized rate of 10.0 percent in April, following an upwardly revised 2.5 percent gain in March, though February’s estimate was adjusted down to a 1.3 percent loss. Over the past 12 months, industrial production is up 5.2 percent, its highest growth rate since June 2000. However, IP is still 9.0 percent below its level at the beginning of the recession. Manufacturing output rose 13.1 percent in April, nearly matching its monthly gain in March of 13.3 percent, as gains were broad-based across categories (with the exception of some transportation categories). Over the past year, manufacturing production is up 6.0 percent, its highest growth rate in 10 years. Outside manufacturing, mining output rose 18.1 percent in April (its fourth consecutive double-digit gain), and utilities production slipped down 14.5 percent during the month. Capacity utilization continued to improve in April, rising from 73.1 percent to 73.7 percent, though it is still well below its December 2007 level of 80.6 percent.