Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production more than reversed a 2.1 percent annualized gain in August, slipping down 2.6 percent in September, perhaps another tentative sign that the inventory cycle is abating. Manufacturing output fell 1.8 percent and while it is still up 5.4 percent on a year-over-year basis, its 3-month annualized growth rate down from its a recent high of 13.1 percent in May to 2.6 percent in September. Durables manufacturing fell 2.9 percent in September on broad-based declines across sectors, while nondurables output inched up 1.4 percent. Mining output rose 8.5 percent in September, following robust gains of 20.4 percent and 11.3 percent in August and July, respectively. On the other hand, utilities production fell 20.2 percent in September, helping to pull its 3-month annualized growth rate down to −9.1 percent over the past three months. Overall capacity utilization slipped down for the first time since June of 2009, falling from 74.85 percent of capacity in August to 74.67 percent.