US industrial output edged up 0.1 percent from a month earlier in October 2018, following a downwardly revised 0.2 percent advance in September and missing market expectations of a 0.2 percent gain. Manufacturing output rose 0.3 percent for its fifth consecutive monthly increase, while the indexes for mining and for utilities declined 0.3 percent and 0.5 percent, respectively. Hurricanes lowered the level of industrial production in both September and October, but their effects appear to be less than 0.1 percent per month. Industrial Production Mom in the United States averaged 0.28 percent from 1919 until 2018, reaching an all time high of 16.60 percent in May of 1933 and a record low of -10.40 percent in August of 1945.

Industrial Production Mom in the United States is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in the United States to stand at 0.20 in 12 months time. In the long-term, the United States Industrial Production MoM is projected to trend around 0.20 percent in 2020, according to our econometric models.

United States Industrial Production MoM
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2018-08-15 01:15 PM Industrial Production MoM 0.1% 1% 0.3% 0.2%
2018-09-14 01:15 PM Industrial Production MoM 0.4% 0.4% 0.3% 0.5%
2018-10-16 01:15 PM Industrial Production MoM 0.3% 0.4% 0.2% 0.3%
2018-11-16 02:15 PM Industrial Production MoM 0.1% 0.2% 0.2% 0.4%
2018-12-14 02:15 PM Industrial Production MoM 0.1% 0.3% 0.2%
2019-01-17 02:15 PM Industrial Production MoM 0.40%
2019-02-15 02:15 PM Industrial Production MoM



US Industrial Output Growth Weaker than Expected


US industrial output edged up 0.1 percent from a month earlier in October 2018, following a downwardly revised 0.2 percent advance in September and missing market expectations of a 0.2 percent gain. An increase in manufacturing production was partially offset by declines in both mining and utilities output. Hurricanes lowered the level of industrial production in both September and October, but their effects appear to be less than 0.1 percent per month.

Manufacturing production moved up 0.3 percent in October, the same pace as in the previous month and marking its fifth consecutive monthly increase. Durable manufacturing rose 0.5 percent, the same as in September, due to production of machinery (1.2 percent vs 0.9 percent); computer and electronic products (0.2 percent vs 0.1 percent); primary metals (3 percent vs 0.9 percent); and fabricated metal products (0.2 percent vs 0.1 percent). On the other hand, there was a contraction in production of both motor vehicles and parts (-2.8 percent vs 1.3 percent) and electrical equipment, appliances, and components (-0.3 percent vs -0.1 percent). In addition, nondurable manufacturing edged up 0.2 percent, after being unchanged in September, due to increases in production of food, beverage, and tobacco products (0.5 percent vs 0.3 percent) and chemicals (0.3 percent vs -0.4 percent). By contrast, petroleum and coal products output contracted (-1.1 percent vs 0.5 percent).

Mining output declined 0.3 percent in October after a 0.1 percent fall in September. After reaching an all-time high in August, primarily as a result of gains in the oil and gas sector, production slipped slightly over the past two months.

The index for utilities dropped 0.5 percent in October, following a 0.1 percent contraction in the previous month, as a decrease for electric utilities (-1.9 percent vs -0.6 percent) was partially offset by a large increase for natural gas utilities (8.6 percent vs 3.4 percent).

Capacity utilization for the industrial sector was 78.4 percent, a rate that is 1.4 percentage points below its long-run (1972–2017) average. Capacity utilization for manufacturing edged up in October to 76.2 percent—with gains for durables and nondurables and a loss for other manufacturing (publishing and logging)—but it was still 2.1 percentage points below its long-run average. The utilization rate for mining fell to 92.7 percent but remained well above its long-run average of 87.0 percent. The operating rate for utilities moved down to 77.3 percent, a rate that is 8.0 percentage points below its long-run average.


Federal Reserve | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/16/2018 2:33:28 PM



United States Business Last Previous Highest Lowest Unit
Business Confidence 59.30 57.70 77.50 29.40 Index Points [+]
Manufacturing PMI 55.30 55.70 57.90 50.70 [+]
Services PMI 54.70 54.80 61.00 49.30 Index Points [+]
Non Manufacturing PMI 60.70 60.30 62.00 37.60 [+]
Composite Pmi 54.70 54.90 61.00 50.00 Index Points [+]
Industrial Production 4.10 5.60 62.00 -33.70 percent [+]
Industrial Production Mom 0.10 0.20 16.60 -10.40 percent [+]
Manufacturing Production 2.70 3.80 67.90 -39.40 percent [+]
Capacity Utilization 78.40 78.50 89.39 66.71 percent [+]
Durable Goods Orders -4.40 -0.10 23.50 -19.00 percent [+]
Durable Goods Orders Ex Defense -1.20 -1.40 26.00 -19.70 percent [+]
Durable Goods Orders Ex Transportation 0.10 -0.60 7.50 -6.80 percent [+]
Factory Orders Ex Transportation 0.30 0.10 4.60 -7.20 percent [+]
New Orders 502677.00 515334.00 565232.00 223500.00 USD Million [+]
Factory Orders -2.10 0.20 10.60 -10.00 percent [+]
Business Inventories 0.30 0.50 1.30 -2.00 percent [+]
Changes in Inventories 86.65 -36.81 166.37 -245.13 USD Billion [+]
Wholesale Inventories 0.80 0.70 2.10 -2.00 percent [+]
Bankruptcies 22103.00 22245.00 82446.00 19695.00 Companies [+]
Corporate Profits 2073.50 2007.53 2073.50 14.70 USD Billion [+]
NFIB Business Optimism Index 107.40 107.90 108.80 80.10 Index Points [+]
Ism New York Index 67.80 69.80 88.80 23.40 percent [+]
Philadelphia Fed Manufacturing Index 12.90 22.20 58.50 -57.90 Index Points [+]
NY Empire State Manufacturing Index 23.30 21.10 39.00 -35.10 Index Points [+]
Richmond Fed Manufacturing Index 14.00 15.00 29.00 -44.00 Index Points [+]
Chicago Fed National Activity Index 0.24 0.14 2.77 -5.22 [+]
Dallas Fed Manufacturing Index 17.60 29.40 47.10 -60.10 Index Points [+]
Chicago Pmi 66.40 58.40 81.00 20.70 Index Points [+]
Car Production 2.64 2.78 9.92 1.29 Million Units [+]
Car Registrations 436.69 443.14 1149.00 331.50 Thousand [+]
Total Vehicle Sales 17.49 17.57 21.77 9.05 Million [+]
Crude Oil Stocks Change -7.32 3.58 14.42 -15.22 BBL/1Million [+]
Natural Gas Stocks Change -63.00 -59.00 147.00 -359.00 Billion cf [+]
Gasoline Stocks Change 1699.00 -764.00 11456.00 -8428.00 Thousand Barrels [+]
Leading Economic Index 124.54 124.26 124.54 46.91 Index Points [+]
Internet Speed 18747.58 17235.62 18747.58 3609.31 KBps [+]
IP Addresses 128949703.00 127873899.00 146874246.00 89399946.00 IP [+]
API Crude Oil Stock Change 5.36 3.45 14.30 -12.40 BBL/1Million [+]
Crude Oil Rigs 877.00 887.00 1609.00 98.00 [+]
Corruption Index 75.00 74.00 78.00 71.00 Points [+]
Corruption Rank 16.00 18.00 24.00 14.00 [+]
Competitiveness Index 85.64 84.84 85.64 5.42 Points [+]
Competitiveness Rank 1.00 1.00 7.00 1.00 [+]
Ease of Doing Business 8.00 6.00 8.00 4.00 [+]
Steel Production 7571.00 7251.00 11951.00 3799.00 Thousand Tonnes [+]
Mining Production 13.10 15.10 108.20 -28.80 percent [+]


United States Industrial Production MoM

In the United States, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 78 percent of total production. The biggest segments within Manufacturing are: Chemicals (12 percent of total production); food, drink and tobacco (11 percent); machinery (6 percent); fabricated metal products (6 percent); computer and electronic products (6 percent); and motor vehicles and parts (6 percent). Mining and quarrying account for 11 percent of production and utilities account for the remaining 11 percent. This page provides the latest reported value for - United States Industrial Production MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Industrial Production MoM - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.20 16.60 -10.40 1919 - 2018 percent Monthly
Volume, SA




Country Last Previous
Argentina 0.60 Oct/15
Australia -0.80 Sep/18
Brazil 0.20 Oct/18
Canada 0.14 Aug/18
China 0.48 Oct/18
Euro Area -0.30 Sep/18
France 1.20 Oct/18
Germany -0.50 Oct/18
India 0.60 Sep/18
Indonesia -0.50 Sep/18
Italy 0.10 Oct/18
Japan 2.90 Oct/18
Mexico 1.00 Sep/18
Netherlands 0.70 Oct/18
Russia 5.80 Oct/18
Saudi Arabia 4.17 Jun/18
Singapore 2.00 Oct/18
South Africa -1.00 Sep/18
South Korea 1.00 Oct/18
Spain 1.20 Oct/18
Turkey -2.70 Sep/18
United Kingdom -0.60 Oct/18
United States 0.10 Oct/18


Related

Latest