on Estimated risk per 07/15/2022 09:21:00
From the Fed: Industrial production and capacity utilization
Total industrial output fell 0.2% in June but grew at an annualized rate of 6.1 percent for the second quarter as a whole. Manufacturing output fell 0.5% for the second month in a row in June; even so, it rose 4.2% year-on-year in the second quarter. In June, the mining index rose 1.7%, while the utilities index fell 1.4%. Total industrial production in June was 104.4% of the 2017 average, up 4.2% from the previous year. Capacity utilization decreased by 0.3 percentage points in June to 80.0 percent.which is 0.4 percentage points above its long-term average (1972–2021) level.
This graph shows capacity usage. This series is above the record low set in April 2020 and above the February 2020 (pre-pandemic) level.
Capacity utilization at 80.0% is 0.4% above the average from 1972 to 2021. This was below the consensus forecast.
Note: The y-axis does not start from zero to better show the change.