Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production rose 0.3 percent (nonannualized) in June, following no change in May. The near-term trend (three-month annualized percent change) has slowed to 0.0 percent (from 5.9 in January). On a year-over-year basis, overall production is up 2.0 percent. Manufacturing production also rose, increasing 0.2 percent for the month while the year-over-year growth rate rests at 1.8 percent. Breaking down the manufacturing sector, durable goods production increased 0.5 percent while nondurable goods fell 0.1 percent in June. Within durable goods manufacturing, machinery, motor vehicle and parts, and miscellaneous manufacturing all increased more than 1.0 percent. Elsewhere within durable goods production, wood products, primary metals, aerospace and miscellaneous transportation equipment along with furniture and related products posted declines. Overall capacity utilization bumped up 0.1 percentage points to 77.8 percent of capacity, which is roughly where is has been since January 2012; current readings are now 2.4 percentage points below its long run average.