Industrial production fell 0.2% in June

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.
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Loading of production capacities Click on the graph to enlarge the image.

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.

industrial productionThe second graph shows industrial production since 1967.

Industrial production fell to 105.7 in June. This is above pre-pandemic levels.

The change in industrial production was below the consensus forecast.