2020-02-17 11:35:00
U.S. INDUSTRIAL PRODUCTION DOWN 0.3% ANEW
U.S. FRB - February 14, 2020 - Industrial production declined 0.3 percent in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft. The index for manufacturing edged down 0.1 percent in January; excluding the production of aircraft and parts, factory output advanced 0.3 percent. The index for mining rose 1.2 percent. At 109.2 percent of its 2012 average, total industrial production was 0.8 percent lower in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.3 percentage point in January to 76.8 percent, a rate that is 3.0 percentage points below its long-run (1972–2019) average.
Market Groups
The major market groups posted mixed results in January. The output of business equipment declined 2.6 percent as a result of the slowdown in the production of aircraft. The step-down in the index for utilities contributed to decreases for consumer energy products and energy materials. The index for consumer durables rose, supported by an increase of 2.8 percent in the output of automotive products.
Industry Groups
Manufacturing output decreased 0.1 percent in January to a level 0.8 percent below its year-earlier reading. The production of durable goods moved down 0.5 percent in January, as drops for aerospace and miscellaneous transportation equipment and for machinery were partially offset by a gain for motor vehicles and parts. The output of nondurable manufacturing rose 0.3 percent, and almost all of its component categories posted gains. The indexes for petroleum and coal products and for plastics and rubber products recorded increases of more than 1 percent, whereas only the index for apparel and leather recorded a decrease of more than 1 percent.
Mining output advanced 1.2 percent in January and stood 3.1 percent above its level of a year earlier. The output of utilities fell 4.0 percent in January, with electric and natural gas utilities posting declines of 3.2 percent and 7.7 percent, respectively.
Capacity utilization for manufacturing edged down 0.1 percentage point in January to 75.1 percent, 3.1 percentage points below its long-run average. The utilization rate for mining rose to 90.7 percent and remained well above its long-run average of 87.2 percent. The operating rate for utilities fell to 70.6 percent, a rate that is about 15 percentage points below its long-run average.
Note: Preliminary Estimates of Industrial Capacity
The data in this release include preliminary estimates of industrial capacity for 2020 (table 8). Measured from fourth quarter to fourth quarter, total industrial capacity is projected to rise 1.3 percent this year after increasing 2.1 percent in 2019. Manufacturing capacity is expected to advance 0.8 percent in 2020 after increasing 1.4 percent in 2019. Capacity in the mining sector is estimated to rise 2.9 percent in 2020 after gaining 5.8 percent in 2019. Capacity at electric and natural gas utilities is projected to increase 3.3 percent in 2020 after expanding 2.5 percent in 2019.
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Earlier:
2020, February, 10, 10:00:00
U.S. UNEMPLOYMENT NEAR 3.6%
the U.S. unemployment rate was little changed at 3.6 percent
2020, February, 7, 10:20:00
U.S. INTERNATIONAL TRADE DEFICIT $48.9 BLN
U.S. International Trade in Goods and Services, December 2019, was $48.9 billion
2020, February, 5, 11:05:00
U.S. OIL & GAS PRODUCTION UP
In 2018, while production was increasing, the total number of wells producing crude oil and natural gas in the United States fell to 982,000, down from a peak of 1,035,000 wells in 2014.
2020, January, 31, 11:20:00
U.S. FEDERAL FUNDS RATE 1.5-1.75%
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee decided to maintain the target range for the federal funds rate at 1‑1/2 to 1-3/4 percent.
2020, January, 29, 13:25:00
U.S. DEBT WILL RISE TO 98%
The U.S. government will spend $1 trillion more than it collects in 2020 and deficits will reach or exceed that threshold every year for the foreseeable future. As a share of gross domestic product, the deficit will be at least 4.3% every year through 2030.
