The May 2012 ISM Manufacturing Survey PMI declined -1.3 percentage points to 53.5% and indicates U.S. Manufacturing grew at slower pace in May, yet new orders hit a high not seen since April 2011. Prices paid for raw materials absolutely plunged and is the lowest since December 2011. Survey comment responses were a mixed bag, but generally positive overall. Chemical Products appears to have had a bad month.
The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows 1.1% increase in industrial production for April 2012. Manufacturing increased 0.6%, mining 1.6% and utilities increased their production a whopping 4.5% in a course of a month. The April jump in utilities shows just how unusual the January to March warm weather was.
The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows zero change in industrial production for March 2012, the second month in a row. Manufacturing dropped -0.2%, mining was up +0.2% and utilities increased +1.5%. This report is also known as output for factories and mines.
The Manufacturers' Shipments, Inventories, and Orders report was released today. This report is called Factory Orders by the press and covers both durable and non-durable manufacturing orders, shipments and inventories. While new orders increased 1.3% from January, the first thing to notice is new orders have recovered to pre-recession levels.
The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows zero change in industrial production for February 2012, but January was revised up, from 0% to 0.4%. Autos has some bad news, the auto & parts index dropped, -1.1% for February, but this is after autos had a meteoric soar of +8.6% in January. This report is also known as output for factories and mines.
The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows zero change in industrial production for January 2012. The culprit was utilities and the Fed blames the weather. Warming temperatures in winter cause home energy production to drop beyond their typical output levels. The big fat industrial production zero hides some very promising changes.
U.S. manufacturing expanded in January primarily due to new orders and production. The January 2012 ISM Manufacturing Surveyincreased +1.0 percentage points to 54.1% PMI. December PMI was revised down, from 53.9% to 53.1% in the ISM's annual revisions. The revisions changed mainly due to the U.S.
The Federal Reserve's Industrial Production & Capacity Utilization report shows a +0.4% increase for December 2011 Industrial Production. This report is also known as output for factories and mines. Manufacturing alone jumped +0.9%. November's industrial production was revised downward to a -0.3% decrease.
The Census, part of the Commerce Department, today released the monthly construction spending report. This is a monthly tally of how much money was spent on construction and the survey has been done since 1960. The below graph shows just how badly construction spending imploded since 2008. Dollars are not adjusted for inflation, so the overall decline is even more dramatic.
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