U.S. INDUSTRIAL PRODUCTION UP 0.5%
FRB - Industrial production rose 0.5 percent in March after increasing 1.0 percent in February; the index advanced 4.5 percent at an annual rate for the first quarter as a whole. After having climbed 1.5 percent in February, manufacturing production edged up 0.1 percent in March. Mining output rose 1.0 percent, mostly as a result of gains in oil and gas extraction and in support activities for mining. The index for utilities jumped 3.0 percent after being suppressed in February by warmer-than-normal temperatures. At 107.2 percent of its 2012 average, total industrial production was 4.3 percent higher in March than it was a year earlier. Capacity utilization for the industrial sector moved up 0.3 percentage point in March to 78.0 percent, a rate that is 1.8 percentage points below its long-run (1972–2017) average.
The output of consumer goods advanced 0.5 percent in March. The production of durable consumer goods jumped 0.9 percent on the strength of a 2.7 percent gain for automotive products. The output of consumer nondurables moved up 0.4 percent, as a sharp increase in the index for consumer energy products was mostly offset by a drop in the index for non-energy nondurable consumer goods. Business equipment registered a gain of 0.5 percent, and all of its major categories posted increases. The index for defense and space equipment rose 0.7 percent. The output of construction supplies fell 0.3 percent after jumping 2.8 percent in February. In March, the index for business supplies recorded an increase of 0.4 percent. The production of materials moved up 0.6 percent, primarily as a result of a gain of 1.2 percent for energy materials.
Manufacturing output edged up 0.1 percent in March and increased 3.1 percent at an annual rate in the first quarter. In March, a decline of 0.3 percent for nondurables was outweighed by gains of 0.4 percent for durables and 0.2 percent for other manufacturing (publishing and logging). Among durables, the index for motor vehicles and parts increased 2.7 percent; vehicle assemblies moved up to 12.0 million units at an annual rate, their highest level since December 2016.
The index for mining climbed 1.0 percent in March and was 10.8 percent higher than its year-earlier level. Mining output has increased for six consecutive quarters, but it is still about 4 percent below its peak in 2014.
Capacity utilization for manufacturing decreased 0.1 percentage point in March to 75.9 percent, a rate that is 2.4 percentage points below its long-run average. The operating rate for durables, at 75.9 percent, was 1.0 percentage point below its long-run average, whereas the rates for nondurables and for other manufacturing (publishing and logging), at 77.0 percent and 61.3 percent, respectively, were further below their long-run averages of about 80 percent for each. Utilization for mining rose 0.5 percentage point to 90.1 percent, which is 3.1 percentage points above its long-run average but 1.5 percentage points below its high in 2014. The capacity utilization rate for utilities jumped 2.2 percentage points to 79.0 percent but remained below its long-run average.
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BAKER HUGHES A GE - U.S. Rig Count is unchanged at 1,057 rigs, with oil rigs unchanged at 869, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 3 rigs from last week to 212, with oil rigs up 1 to 141 and gas rigs up 2 to 71.
REUTERS - Brent crude oil futures LCOc1 were down 3 cents at $71.40 a barrel by 00229 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 1 cent to $65.45 a barrel.
МИНЭНЕРГО РОССИИ - «Если рассмотреть Конвенцию через призму энергетического сотрудничества прикаспийских государств, можно отметить, что она открывает большие перспективы для расширения и углубления взаимовыгодного сотрудничества в сфере ТЭК», - сказал глава российского энергетического ведомства.
WNA - Nuclear reactors generated a total of 2506 TWh of electricity in 2017, up from 2477 TWh in 2016. This is the fifth successive year that nuclear generation has risen, with output 160 TWh higher than in 2012.