Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased 1.0 percent (nonannualized) in April. On a year-over-year basis, overall production is up 5.2 percent with a near-term trend (three-month annualized growth) of 3.8 percent growth. Manufacturing production increased 0.5 percent after having fallen 0.4 percent in March. Breaking down the manufacturing sector, durable goods production rose 1.3 percent while nondurable goods manufacturing fell 0.2 percent in April. Within durable goods manufacturing, all major categories increased except wood products, with motor vehicles and parts production and furniture and related products leading the way growing 4.0 percent and 2.4 percent, respectively. Mining output jumped 1.6 percent, after having declined the previous two months. Overall capacity utilization increased 0.8 percentage points to 79.2 percent of capacity in April, still 1.4 percentage points below its December 2007 reading.