Friday, May 14, 2010

Industrial Production Up 0.8%, Manufacturing Up 1.0%

In April, industrial production rose 0.8 percent. For the third consecutive month, a drop in utility output dragged down the top line number. Utilities production fell 1.3 percent over the month, following a large drop of 6.1 percent in March.

Manufacturing output continued to expand, increasing by 1.0 percent for the second straight month. Excluding auto manufacturing, output grew at a higher 1.2 percent. The manufacturing sector remains in a phase of strong recovery.

The capacity utilization rate rose for the eighth consecutive month, increasing by 0.6 point to 73.7 percent. There still remains heavy productive slack; however, an increasing utilization rate is an encouraging step in the right direction as it will have to continue to increase in order to dry significant payroll growth expansion.

10.05.14 (Source: Federal Reserve)

No comments:

Post a Comment

Please read our comment policy before making a comment.