Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production rebounded from a 0.1 percent (nonannualized) decrease in May, rising 0.2 percent in June. Over the past year, industrial production is up 3.4 percent. Manufacturing production was flat in June and virtually unchanged during the second quarter, as supply chain disruptions stemming from the Japanese earthquake curtailed production of autos and related industries. Motor vehicle and parts production slipped down 2.0 percent in June and fell 4.4 percent on the quarter as a whole. Excluding autos, manufacturing ouput rose 0.2 percent in June and is up 3.7 percent over the past year. Outside manufacturing, mining output continued its recent string of relatively robust growth, increasing 6.6 percent in June and 6.1 percent over the past year. Also, electric and gas utilities output rose 11.6 percent in June after falling 21.4 percent in May. Capacity utilization, after edging down a combined .34 percentage points over the past two months, ticked up a tenth of a percent in June to 76.7 percent, still well below pre-recession level of 81.1 percent.