US industrial output dropped 0.6 percent from a month earlier in January 2019, following a downwardly revised 0.1 percent growth in December and missing market expectations of a 0.1 percent gain. Manufacturing production fell 0.9 percent, primarily as a result of a large drop in motor vehicle assemblies, while mining and utilities output rose. Industrial Production Mom in the United States averaged 0.28 percent from 1919 until 2019, 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 0.30 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 0.10 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
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Calendar GMT Actual Previous Consensus TEForecast
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 0.6% -0.2% 0.3% 0.2%
2019-01-18 02:15 PM Industrial Production MoM 0.3% 0.4% 0.2% 0.4%
2019-02-15 02:15 PM Industrial Production MoM -0.6% 0.1% 0.1% 0.2%
2019-03-15 01:15 PM Industrial Production MoM -0.6% 0.2%
2019-04-16 01:15 PM Industrial Production MoM 0.3%
2019-05-15 01:15 PM Industrial Production MoM



US Industrial Output Falls for 1st Time in 8 Months

US industrial output dropped 0.6 percent from a month earlier in January 2019, following a downwardly revised 0.1 percent growth in December and missing market expectations of a 0.1 percent gain.

Manufacturing production fell 0.9 percent in January, following a 0.8 percent rise in December. Within durable manufacturing, motor vehicles and parts posted the steepest contraction (-8.8 percent vs 4.3 percent in December), as vehicle assemblies fell to 10.6 million units at an annual rate in January (their lowest reading since May 2018) from 12.3 million units in December (their highest monthly pace since June 2016). Most other major durable goods industries also recorded decreases: machinery (-0.5 percent vs -1.1 percent); computer and electronic products (-1.4 percent vs 1.7 percent); aerospace and miscellaneous transportation equipment (-0.3 percent vs 2.7 percent); primary metals (-0.2 percent vs -0.3 percent); and nonmetallic mineral products (-0.8 percent vs 3.1 percent). By contrast, fabricated metal products output increased 0.4 percent after a 0.2 percent gain in the previous month. Among nondurables, declines in production of chemicals (-0.4 percent vs -0.2 percent) and food, beverage, and tobacco products (-0.1 percent vs 0.9 percent) were offset by an increase in petroleum and coal products output (1.5 percent vs 3.2 percent).

Mining output edged up 0.1 percent in January, easing from a 1.5 percent growth in the previous month. The output of utilities increased 0.4 percent (vs -6.9 percent in December), with natural gas utilities rising 6 percent after falling 19 percent a month earlier.

Capacity utilization for manufacturing declined 0.7 percentage point in January to 75.8 percent, about 2 1/2 percentage points below its long-run average. The utilization rate for mining fell to 94.8 percent but remained well above its long-run average of 87.1 percent. The operating rate for utilities increased to 75.4 percent, a rate that is about 10 percentage points below its long-run average.


Federal Reserve | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/15/2019 2:37:16 PM



United States Business Last Previous Highest Lowest Unit
Business Confidence 56.60 54.30 77.50 29.40 Index Points [+]
Manufacturing PMI 53.70 54.90 57.90 50.70 [+]
Services PMI 56.20 54.20 61.00 49.30 Index Points [+]
Non Manufacturing PMI 56.70 58.00 62.00 37.80 [+]
Composite Pmi 55.80 54.40 61.00 50.00 Index Points [+]
Industrial Production 3.80 4.10 62.00 -33.70 percent [+]
Industrial Production Mom -0.60 0.10 16.60 -10.40 percent [+]
Manufacturing Production 2.90 3.20 67.90 -39.40 percent [+]
Capacity Utilization 78.22 78.83 89.39 66.71 percent [+]
Durable Goods Orders 1.20 1.00 23.50 -19.00 percent [+]
Durable Goods Orders Ex Defense 1.80 0.00 26.00 -19.70 percent [+]
Durable Goods Orders Ex Transportation 0.10 -0.20 7.50 -6.80 percent [+]
Factory Orders Ex Transportation -1.30 0.20 4.60 -7.20 percent [+]
New Orders 499194.00 502677.00 565232.00 223500.00 USD Million [+]
Factory Orders -0.60 -2.10 10.60 -10.00 percent [+]
Business Inventories -0.10 0.60 1.30 -2.00 percent [+]
Changes in Inventories 89.77 -36.81 166.37 -245.13 USD Billion [+]
Wholesale Inventories 0.30 0.90 2.10 -2.00 percent [+]
Bankruptcies 22232.00 22103.00 82446.00 19695.00 Companies [+]
Corporate Profits 2076.82 2007.53 2076.82 14.70 USD Billion [+]
NFIB Business Optimism Index 101.20 104.40 108.80 80.10 Index Points [+]
Ism New York Index 63.40 65.40 88.80 23.40 percent [+]
Philadelphia Fed Manufacturing Index -4.10 17.00 58.50 -57.90 Index Points [+]
NY Empire State Manufacturing Index 8.80 3.90 39.00 -34.40 Index Points [+]
Richmond Fed Manufacturing Index -2.00 -8.00 29.00 -44.00 Index Points [+]
Chicago Fed National Activity Index 0.27 0.21 2.77 -5.22 [+]
Dallas Fed Manufacturing Index 1.00 -5.10 47.10 -60.10 Index Points [+]
Chicago Pmi 56.70 63.80 78.60 21.20 Index Points [+]
Car Production 2.61 3.00 9.92 1.29 Million Units [+]
Car Registrations 445.50 401.53 1149.00 331.50 Thousand [+]
Total Vehicle Sales 16.70 17.55 21.77 9.05 Million [+]
Crude Oil Stocks Change 3.67 3.63 14.42 -15.22 BBL/1Million [+]
Natural Gas Stocks Change -177.00 -78.00 147.00 -359.00 Billion cf [+]
Gasoline Stocks Change -1454.00 408.00 11456.00 -8428.00 Thousand Barrels [+]
Leading Economic Index 125.13 124.80 125.13 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 1.26 -1.00 14.30 -12.40 BBL/1Million [+]
Crude Oil Rigs 853.00 857.00 1609.00 98.00 [+]
Corruption Index 71.00 75.00 78.00 71.00 Points [+]
Corruption Rank 22.00 16.00 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 7568.00 7425.00 11951.00 3799.00 Thousand Tonnes [+]
Mining Production 15.30 14.00 108.20 -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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 0.10 16.60 -10.40 1919 - 2019 percent Monthly
Volume, SA




Country Last Previous
Argentina 0.60 Oct/15
Australia -0.80 Sep/18
Brazil 0.20 Dec/18
Canada 0.65 Oct/18
China 0.54 Dec/18
Euro Area -0.90 Dec/18
France 0.80 Dec/18
Germany -0.40 Dec/18
India 5.90 Dec/18
Indonesia 0.00 Oct/18
Italy -0.80 Dec/18
Japan -0.10 Dec/18
Mexico -0.40 Dec/18
Netherlands 0.00 Nov/18
Russia -21.50 Jan/19
Saudi Arabia 4.17 Jun/18
Singapore -5.60 Dec/18
South Africa 0.70 Dec/18
South Korea -1.40 Dec/18
Spain -1.40 Dec/18
Turkey -1.40 Dec/18
United Kingdom -0.50 Dec/18
United States -0.60 Jan/19


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