Tag Archives: manufacturing
Recent weeks have not been kind to economic readings, with a mix of negative reports or failures to meet expectations. Today’s report on industrial production in March is in line with the overall soft trend for the first quarter.
Durable goods orders fell 1.4% in February, after being revised down in January. Losses were driven by a correction in aircraft orders, but still more widespread than hoped. Only 3 of eleven categories posted increases: primary metals, communications equipment and appliances
Industrial production edged up a negligible 0.1% in February, carried almost entirely by gains in utilities. Colder than usual temperatures across the country in February boosted utility usage, particularly in places that typically see more temperate conditions, in the South and West. Texas and Virginia were hit particularly hard by cold winter weather and storms [...]
Real GDP was revised down to 2.2% in the fourth quarter from an initial estimate of 2.6%. A sharp downward revision to inventories was the primary reason for the revision, which leaves less of an overhang for producers to drain in early 2015. Imports were also revised up, reflecting the phenomenal strength of consumer spending
Durable goods orders increased 2.8% in January, only partially offsetting two months of ugly declines. An increase in aircraft orders was the primary reason for the turnaround. Orders for nondefense aircraft and parts surged a whopping 128.5% in January. Other pockets of strength included machinery and computing equipment,
The index of industrial production rose 0.2% in January, less than many had hoped after a decline of 0.3% in December. Gains in manufacturing activity, which were driven by a pickup in utilities production, were tempered by a loss in the mining sector.
Durable goods orders unexpectedly dropped 3.4% in December following data revised downward for November; that marks the fourth decline in five months. Headline data were weighed down again by transportation equipment, which has been struggling in recent months. Even the new orders ex-transportation show a decline of 0.8%. Looking at core capital goods (the best indicator [...]
Industrial production fell 0.1% in December after surging 1.3% the month prior. Moreover, the fall in production was due to a drop in utilities. We also saw some declines in vehicle production, representing a need to liquidate inventories. Manufacturing, however, still managed to increase
Construction spending fell 0.3% in November after surging a revised 1.2% in October. A sharp drop in public outlays, which led October gains, accounted for much of the weakness. Residential construction continued to post gains, but off of a low base. Single-family home construction,
Real GDP was revised up to a whopping 5.0% rate of growth in the third quarter from a 3.9% estimate previously, The revision is unusually large for a third cut of the data. Moreover, revisions were up for all the right reasons, notably stronger domestic demand. We also saw an even stronger surge