RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2021-08-02 12:20:00

U.S. INDUSTRIAL PRODUCTION UP 0.4%

U.S. INDUSTRIAL PRODUCTION UP 0.4%

U.S. FRB - July 15, 2021- Industrial production increased 0.4 percent in June after moving up 0.7 percent in May. In June, manufacturing output edged down 0.1 percent, as an ongoing shortage of semiconductors contributed to a decrease of 6.6 percent in the production of motor vehicles and parts. Excluding motor vehicles and parts, factory output increased 0.4 percent. The output of utilities advanced 2.7 percent, reflecting heightened demand for air conditioning, as much of the country experienced a heat wave in June. The index for mining increased 1.4 percent. 

For the second quarter as a whole, total industrial production rose at an annual rate of 5.5 percent. Manufacturing output increased at an annual rate of 3.7 percent despite a drop of 22.5 percent for motor vehicles and parts.

At 100.1 percent of its 2017 average, total industrial production in June was 9.8 percent above its year-earlier level but 1.2 percent below its pre-pandemic (February 2020) level. Capacity utilization for the industrial sector rose 0.3 percentage point in June to 75.4 percent, a rate that is 4.2 percentage points below its long-run (1972–2020) average.

U.S. Industrial production 2021

 

U.S. Capscity utilisation 1972 - 2021

Market Groups

Market groups posted mixed results in June. The drop in motor vehicle output contributed to decreases in consumer goods and business equipment. Defense and space equipment posted the largest gain among market groups, advancing 4.4 percent. The index for materials advanced 1.0 percent as a result of a gain in energy materials.

Industry Groups

In June, manufacturing output edged down 0.1 percent and was 0.8 percent below its pre-pandemic level. Production of durable goods slipped 0.2 percent; in addition to the drop for motor vehicles and parts, declines of more than 1.0 percent were recorded by nonmetallic mineral products and by electrical equipment, appliances, and components. The output of nondurable goods rose 0.2 percent. The largest increases were recorded by printing and support activities and by petroleum and coal products, while the largest decreases were recorded by paper and by apparel and leather. The output of other manufacturing (publishing and logging) declined 0.8 percent.

The index for mining gained 1.4 percent in June and expanded at an annual rate of 25.6 percent in the second quarter. In June, oil and gas extraction increased 2.1 percent, but the index remained 6.0 percent below its pre-pandemic level. The index for utilities rose 2.7 percent in June but fell 2.2 percent in the second quarter.

Capacity utilization for manufacturing declined 0.1 percentage point in June to 75.3 percent. The operating rate for mining increased 1.1 percentage points to 76.7 percent, while the operating rate for utilities rose 1.8 percentage points to 74.5 percent. The rates for all three sectors remained below their long-run averages.

Note. The Federal Reserve typically publishes revised estimates of industrial capacity concurrent with the July release of industrial production and capacity utilization. Revised estimates of industrial capacity will not be published this year because an annual revision to industrial production and capacity utilization was issued on May 28, 2021. The next update to capacity will occur early next year when the Federal Reserve issues preliminary estimates for 2022.

Revision of Industrial Production and Capacity Utilization

The Federal Reserve Board issued its annual revision to the indexes of industrial production (IP) and the related measures of capacity utilization on May 28, 2021. The base year for the revised indexes is 2017. New annual benchmark data for manufacturing for 2017 through 2019 were incorporated, as well as other annual data, including information on the mining of metallic and nonmetallic minerals (except fuels). The weights for market-group splits of the industry-level indexes were updated with information from the 2012 benchmark input-output accounts from the U.S. Bureau of Economic Analysis. The updated IP indexes included revisions to the monthly production indicator (either product data or input data) and to seasonal factors for each industry. In addition, the estimation methods for some series were changed. Any modifications to the methods for estimating the output of an industry affected the index from 1972 to the present.

Capacity and capacity utilization were revised to incorporate data for manufacturing through the fourth quarter of 2020 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization, along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.

Note. The statistics in this release cover output, capacity, and capacity utilization in the U.S. industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the North American Industry Classification System (NAICS); electric and gas utilities are those in NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33) plus the logging industry and the newspaper, periodical, book, and directory publishing industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and information respectively), but historically they were considered to be manufacturing and were included in the industrial sector under the Standard Industrial Classification (SIC) system. In December 2002 the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS. 

Full PDF version

-----


Earlier:

U.S. INDUSTRIAL PRODUCTION UP 0.4%
2021, July, 29, 13:25:00
U.S. FEDERAL FUNDS RATE 0.0 - 0.25% ANEW
The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2021, July, 5, 12:50:00
U.S. INTERNATIONAL TRADE DEFICIT UP TO $71.2 BLN
The U.S. goods and services deficit was $71.2 billion in May, up $2.2 billion from $69.1 billion in April
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2021, May, 19, 14:25:00
U.S. INDUSTRIAL PRODUCTION UP 0.7%
Total industrial production increased 0.7 percent in April. The indexes for mining and utilities increased 0.7 percent and 2.6 percent, respectively; the index for manufacturing rose 0.4 percent despite a drop in motor vehicle assemblies that principally resulted from shortages of semiconductors.
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2021, May, 13, 17:20:00
U.S. GDP UP 6.4%
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2021, May, 13, 17:15:00
U.S. INTERNATIONAL TRADE DEFICIT UP TO $74.4 BLN
The U.S. goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2021, April, 16, 11:45:00
U.S. INDUSTRIAL PRODUCTION UP 1.4%
U.S. industrial production increased 1.4 percent in Murch.
All Publications »
Tags: USA, INDUSTRY, PRODUCTION
Chronicle:
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:29:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:28:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:25:00
ЦЕНА URALS: $49.48
Средняя цена на нефть марки Urals в январе 2023 года сложилась в размере $49,48 за баррель, что в 1,7 раз ниже, чем в январе 2022 года ($85,64 за баррель).
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:20:00
RUSSIAN GAS TO EUROPE DOWN AGAIN
Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:15:00
BP: THE TRANSITION TO A LOW-CARBON WORLD
The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:10:00
GERMAN WIND ENERGY 7 GW
Germany targets 30 GW of offshore wind by 2030. The country had 7.7 GW of offshore wind installed capacity at the end of 2021.
U.S. INDUSTRIAL PRODUCTION UP 0.4%
2023, February, 3, 11:05:00
INDIA GREEN TRANSITION $8 BLN
India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.
All Publications »