Industrial production fell 0.2 percent in August

by Calculated risk on 09/15/2022 09:21:00 AM

From the Federal Reserve: Industrial Production and Capacity Exploitation

Industrial production fell 0.2 percent in August. Manufacturing production rose 0.1 percent after rising 0.6 percent in July. The mining index was unchanged, and the utilities index was down 2.3 percent. At 104.5 percent of its 2017 average, total industrial production in August was 3.7 percent higher than its level a year earlier. Capacity utilization fell 0.2 percentage point in August to 80.0 percentan average of 0.4 percentage points above the long-term average (1972-2021).
Confirmations added

Click on the chart for a larger picture.

This graph shows capacitance usage. This series is above the record low recorded in April 2020, and above the level recorded in February 2020 (pre-pandemic).

Capacity utilization at 80.0% is 0.4% above the average from 1972 to 2021. This was below expectations.

Note: The y axis does not start from zero to better show the change.

Industrial productionThe second graph shows industrial production since 1967.

Industrial production in August fell to 104.5. This is higher than the pre-pandemic level.

The change in industrial production was less than consensus expectations.

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