Industrial Production Unchanged in February

by Calculated Danger on 3/17/2023 09:21:00 AM

From the Fed: Industrial Manufacturing and Capability Utilization

Industrial manufacturing was unchanged in February, and manufacturing output edged up 0.1 p.c. The index for mining fell 0.6 p.c, whereas the index for utilities rose 0.5 p.c. At 102.6 p.c of its 2017 common, whole industrial manufacturing in February was 0.2 p.c beneath its year-earlier stage. Capability utilization was unchanged in February at 78.0 p.c, a price that’s 1.6 share factors beneath its long-run (1972–2022) common.
emphasis added

Click on on graph for bigger picture.

This graph exhibits Capability Utilization. This collection is up from the report low set in April 2020, and above the extent in February 2020 (pre-pandemic).

Capability utilization at 78.0% is 1.6% beneath the common from 1972 to 2021.  This was beneath consensus expectations.

Word: y-axis would not begin at zero to higher present the change.

Industrial ProductionThe second graph exhibits industrial manufacturing since 1967.

Industrial manufacturing was unchanged in February at 102.6. That is above the pre-pandemic stage.

Industrial manufacturing was beneath consensus expectations and former months have been revised down.