The Federal Reserve Industrial Production & Capacity Utilization report shows more malaise for the U.S. manufacturing sector. The bad news is industrial production dropped by a hefty -0.4% for December. Worse, November was revised downward 0.3 percentage points to a -0.9% monthly decline October also was negative, a -0.2% decline, and September showed no change.
The December ISM Manufacturing Survey is yet another awful month. Manufacturing is in a second month of contraction and this time slightly deeper than November. PMI was 48.2%, -0.4 percentage points lower than the previous month. New orders is still in contraction and employment plunged and went into contraction. Only six sectors showed any growth according to the survey.
The November ISM Manufacturing Survey is truly awful. It shows the manufacturing sector has just gone into contraction. This is after months of warning as growth stuttered. PMI was 48.6%.
The September ISM Manufacturing Survey shows yet more deceleration of the manufacturing sector. While a PMI of 50.2% is still growth, it is barely growth. The composite PMI decreased by -0.9 percentage points and new orders decreased by -1.6 percentage points. Order backlogs truly imploded.
The Federal Reserve Industrial Production & Capacity Utilization report has good news and bad news. The bad news is industrial production dropped by a hefty -0.4% for August. The better news is July was revised upward by 0.3 percentage points to a 0.9% blow out increase.
The August ISM Manufacturing Survey shows more deceleration of the manufacturing sector. While a PMI of 51.1% is still growth, the decline in new orders is disconcerting. The composite PMI decreased by -1.6 percentage points and new orders decreased by -4.8 percentage points. Overall the report really shows a weakening manufacturing sector.
The Federal Reserve Industrial Production & Capacity Utilization report shows industrial production soared by 0.6% as manufacturing came alive with a 0.8% increase. This is the largest gain since November 2014.
The BLS Productivity & Costs report for Q2 2015 shows labor productivity increased 1.3% annualized. Output increased 2.8% and hours worked increased 1.5%. Unit Labor costs increased only 0.5% in Q2 2015. The reason labor productivity rose was because economic output grew more than worker hours. Both Q4 2014 and Q1 2015 showed decreases in labor productivity.
The May ISM Manufacturing Survey shows a slight improvement from last month, yet nothing to write home about. The composite PMI increased by 0.7 percentage points to 53.5%. Manufacturing employment accelerated and order backlogs dropped. Prices for manufacturers didn't change for the month.
The Federal Reserve Industrial Production & Capacity Utilization report shows industrial production decreased -0.3% as gas and oil well drilling continued to decline, abet at a slower pace. This is the seventh month in a row for no increase. Mining for the month declined -0.3% and the previous four months contracted an entire percentage point on average. Manufacturing also declined for the month.
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