November 2017

U.S. Industrial Production

Industrial production moved-up 0.9% in October, month on month, (m/m) besting analyst’s consensus forecast. This was the strongest monthly gain since April of this year. Production was broad based, manufacturing production also recorded its best gain since April, surging 1.3% m/m as capacity utilization advanced 0.6%. Industrial production is a pure measure of output, untainted [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index advanced 0.3 points in October to 60.1 to its highest level since October 2003. The result once again exceeded analysts’ expectations. The results were generally positive, as the sub-indexes of; business activity, employment, exports and inventories all improved. New orders dipped a fraction, imports were flat and [...]

ISM Manufacturing Index

The Purchasers Manger’s Index posted a score of 58.8, falling 2.1 points month on month, (m/m), lower than analysts’ expectations. Despite the decline, the index remains at elevated levels leaving the expectation of further gains in manufacturing over the next several months. The new orders index fell back 1.2 points to 63.4, its fifth month [...]

October 2017

U.S. Industrial Production

Industrial production bounced back in September, up 0.3% month on month, (m/m), after taking a 0.9% dip in August. Production was broad based. Utilities and mining posted gains, which were unexpected due to the damage caused by the recent hurricanes. Manufacturing production disappointed however, up a weaker than expected 0.1% m/m. Manufacturing production was up [...]

ISM Manufacturing Index

Manufacturing activity continued to improve in September helped by a depreciated U.S dollar and a stronger global economy. The Purchasers Manger’s Index posted a score of 60.8, up 2.0 points month on month, (m/m) surpassing analysts’ expectations. The index is now at its highest level since July 2004. The new order sub index was 64.6, [...]

September 2017

U.S. Manufacturing Capacity Utilization

Manufacturing fundamentals continue to improve. Both the U.S. and global economy are strengthening and at the same time, the dollar has depreciated against the Broad Index, (basket of countries’ currencies that the U.S trades with). In addition, inventories that were previously seen as a drag on production have now shifted to a supporting role. Manufacturing [...]

U.S. Industrial Production

After six consecutive monthly gains, the Industrial production declined 0.9% month on month, (m/m) in August. Early indications are that hurricane Harvey’s impact reduced the score by 0.75 percentage point. Manufacturing industries most effected by the wind and flooding damage include; petroleum refining, organic chemicals and plastics and resins. Mining output slowed by 0.8% in [...]