US industrial output edged up 0.1 percent from a month earlier in February 2019, following a revised 0.4 percent fall in January and missing market expectations of a 0.4 percent gain. Utilities and mining output supported growth, while manufacturing production fell for the second consecutive month. 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
2018-12-14 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 0.1% -0.4% 0.4% 0.2%
2019-04-16 01:15 PM Industrial Production MoM 0.1% 0.3%
2019-05-15 01:15 PM Industrial Production MoM
2019-06-14 01:15 PM Industrial Production MoM



US Industrial Output Rebound Weaker than Expected

US industrial output edged up 0.1 percent from a month earlier in February 2019, following a revised 0.4 percent fall in January and missing market expectations of a 0.4 percent gain. Utilities and mining output supported growth, while manufacturing production fell for the second consecutive month.

The output of utilities rose 3.7 percent in February (vs -0.9 percent in January), as the output of electric utilities rebounded from decreases in the previous two months. Mining output moved up 0.3 percent for its 13th consecutive monthly increase.

Manufacturing output decreased 0.4 percent in February after falling 0.5 percent in January, also missing market consensus of 0.3 percent growth. The output of durables edged down 0.1 percent (vs -1.2 percent in January) due to declines in production of nonmetallic mineral products (-2.1 percent vs 0.1 percent), machinery (-1.9 percent vs 0.2 percent), and furniture and related products (-1.5 percent vs 0.9 percent), while gains were registered by computer and electronics products (1.4 percent vs -0.2 percent), aerospace and miscellaneous transportation equipment (1.1 percent vs 1.2 percent), and miscellaneous manufacturing (1.1 percent vs unchanged). In addition, nondurable goods production fell 0.7 percent (vs 0.3 percent in January), as most major nondurable goods industries posted decreases, in particular petroleum and coal products (-5.2 percent vs 2.9 percent), apparel and leather (-1.8 percent vs -4 percent), and printing and support (-1.5 percent vs 0.3 percent). The only increases were recorded by paper (0.7 percent vs -0.8 percent) and food, beverage, and tobacco products (0.3 percent vs 0.7 percent). Production of other manufacturing (publishing and logging) increased 0.5 percent but remained well below its year-earlier level.

Capacity utilization for the industrial sector edged down 0.1 percentage point in February to 78.2 percent, a rate that is 1.6 percentage points below its long-run (1972–2018) average. Capacity utilization for manufacturing declined 0.4 percentage point in February to 75.4 percent, almost 3 percentage points below its long-run average, with losses for durables and for nondurables but a gain for other manufacturing (publishing and logging). The utilization rate for mining decreased to 94.6 percent but remained well above its long-run average of 87.1 percent. The rate for utilities jumped to 78.6 percent, but it was still nearly 7 percentage points below its long-run average.


Federal Reserve | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/15/2019 1:32:06 PM



United States Business Last Previous Highest Lowest Unit
Business Confidence 54.20 56.60 77.50 29.40 Index Points [+]
Manufacturing PMI 52.50 53.00 57.90 50.70 [+]
Services PMI 54.80 56.00 61.00 49.30 Index Points [+]
Non Manufacturing PMI 59.70 56.70 62.00 37.80 [+]
Composite Pmi 54.30 55.50 61.00 50.00 Index Points [+]
Industrial Production 3.50 3.90 62.00 -33.70 percent [+]
Industrial Production Mom 0.10 -0.40 16.60 -10.40 percent [+]
Manufacturing Production 1.00 2.80 67.90 -39.40 percent [+]
Capacity Utilization 78.23 78.26 89.39 66.71 percent [+]
Durable Goods Orders 0.40 1.30 23.50 -19.00 percent [+]
Durable Goods Orders Ex Defense 0.70 2.20 26.00 -19.70 percent [+]
Durable Goods Orders Ex Transportation -0.10 0.30 7.50 -6.80 percent [+]
Factory Orders Ex Transportation -0.20 -0.50 4.60 -7.20 percent [+]
New Orders 500479.00 499876.00 565232.00 223500.00 USD Million [+]
Factory Orders 0.10 0.10 10.60 -10.00 percent [+]
Business Inventories 0.60 0.00 1.30 -2.00 percent [+]
Changes in Inventories 97.07 89.77 166.37 -245.13 USD Billion [+]
Wholesale Inventories 1.20 1.10 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 101.70 101.20 108.80 80.10 Index Points [+]
Ism New York Index 61.10 63.40 88.80 23.40 percent [+]
Philadelphia Fed Manufacturing Index 13.70 -4.10 58.50 -57.90 Index Points [+]
NY Empire State Manufacturing Index 3.70 8.80 39.00 -34.40 Index Points [+]
Richmond Fed Manufacturing Index 16.00 -2.00 29.00 -44.00 Index Points [+]
Chicago Fed National Activity Index -0.43 0.05 2.77 -5.25 [+]
Dallas Fed Manufacturing Index 13.10 1.00 47.10 -60.10 Index Points [+]
Chicago Pmi 64.70 56.70 78.60 21.20 Index Points [+]
Car Production 2.64 2.61 9.92 1.29 Million Units [+]
Car Registrations 389.93 445.50 1149.00 331.50 Thousand [+]
Total Vehicle Sales 16.57 16.70 21.77 9.05 Million [+]
Crude Oil Stocks Change -9.59 -3.86 14.42 -15.22 BBL/1Million [+]
Natural Gas Stocks Change -47.00 -204.00 147.00 -359.00 Billion cf [+]
Gasoline Stocks Change -4587.00 -4624.00 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 -2.13 -2.58 14.30 -12.40 BBL/1Million [+]
Crude Oil Rigs 824.00 833.00 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 7647.00 7568.00 11951.00 3799.00 Thousand Tonnes [+]
Mining Production 12.50 15.40 108.20 -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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.10 -0.40 16.60 -10.40 1919 - 2019 percent Monthly
Volume, SA




Country Last Previous
Argentina 0.60 Oct/15
Australia -0.80 Sep/18
Brazil -0.80 Jan/19
Canada 0.65 Oct/18
China 0.43 Feb/19
Euro Area 1.40 Jan/19
France 1.30 Jan/19
Germany -0.80 Jan/19
India 0.40 Jan/19
Indonesia 0.00 Oct/18
Italy 1.70 Jan/19
Japan -3.40 Jan/19
Mexico 0.60 Jan/19
Netherlands 0.00 Nov/18
Russia 0.40 Feb/19
Saudi Arabia 4.17 Jun/18
Singapore 0.90 Jan/19
South Africa -2.00 Jan/19
South Korea 0.50 Jan/19
Spain 3.40 Jan/19
Turkey 1.00 Jan/19
United Kingdom 0.60 Jan/19
United States 0.10 Feb/19


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