Industrial output unexpectedly fell in October as superstorm Sandy disrupted production, but the underlying tone remained consistent with slowing manufacturing activity. Industrial production contracted 0.4 percent last month after a 0.2 percent increase in September, the Federal Reserve said on Friday. The Fed said the storm, which tore through the East Coast at the end of October, is estimated to have reduced the rate of change in output by nearly 1 percentage point. It cut the output of utilities, chemicals, food, transportation equipment, and computers and electronic products, the Fed said. Economists had expected a 0.2 percent gain in industrial [...]
Industrial production slumped 1.2% in August, the largest one-month percentage drop since March 2009, the Federal Reserve reported Friday. Hurricane Isaac’s impact on Gulf Coast region output was responsible for 0.3 percentage points of the drop, the Fed said. Economists polled by MarketWatch had expected a 0.3% drop for August. July’s growth was revised down to 0.5% growth from a previously estimated 0.6% rise. Compared to August 2011, industrial production is up 2.8%. Capacity utilization fell to 78.2% from 79.2% in July.
Former Bank of Japan official says Japan could face recession number sixData come hours before world’s central bankers converge on Jackson Hole, WyomingDeflation in Japan lingersTokyo — Japan added to global growth jitters on Friday by posting unexpectedly weak industrial production numbers for July and a muted outlook for August and September.Economists had been expecting a 1.7% increase in output from the manufacturing sector from June, boosted by the effects of reconstruction spending in the tsunami-hit Tohoku area.Instead, preliminary government data suggested that production sank 1.2% in July. Manufacturers are now forecasting production to increase 0.1% in August, then fall [...]
Industrial production picked up in July after two months of slight growth, the Federal Reserve said Wednesday in the latest reading that shows the economy in the third quarter got off to a decent start. Industrial production picked up 0.6% in July after slender 0.1% monthly gains in May and June, the Fed said. The Fed had previously reported a 0.4% gain in June and a 0.2% drop in May. The 0.6% gain was as expected in a MarketWatch-compiled poll of economists. Capacity utilization rose to 79.3% in July from 78.9% in May – the highest level since April 2008. [...]
U.S. factories made more cars, computers and airplanes last month, a hopeful sign that manufacturing is recovering after a weak spring. Industrial production increased 0.6 percent in July from June, the fourth straight monthly increase, the Federal Reserve reported Wednesday. Factory output, the most important component of industrial production, rose 0.5 percent, the second straight increase. Factory output has risen 21.9 percent since its recession low hit in June 2009 and is just 1.7 percent below the pre-recession peak for factory output reached in April 2007. Manufacturing, which helped lift the economy out of the Great Recession three years ago, [...]