November 2014 Economic Indicators
Melanie Garza - Director of Operations
Industrial Production Rises
Industrial production increased 1% in September and advanced at an annual rate of 3.2% in the third quarter. In September, manufacturing output nudged up .5% and is up 4.3% from a year ago. Industrial production is now 105.1% above its pre-recession numbers in 2007. Furthermore, the capacity utilization rate for total industry rose .6% in September to 79.3 percent.
Consumer goods production climbed .5% in September; but has decreased at an annual rate of .6% for the third quarter. Durable consumer goods fell .3% in September where losses in the indexes for automotive products and for home electronics slightly outweighed gains elsewhere. Nondurable goods for consumer rose .3% including energy products, clothing and consumer products.
Production for business equipment increased .3% in September including gains in transit equipment and for information processing equipment. Industrial and other equipment was remained unchanged. Business equipment is advancing at an annual rate of 4.9%, with gains in all three of its major categories.
Defense and space equipment production rose 1.4% in September and is increasing at an annual rate of 3.2%.
Construction supplies grew.4% in September and is growing at an annual rate of 10.2%. However, in contrast with pre-recession production construction supplies are more than 10% below 2007 figures.
Orders for Durable Goods Slip
New orders for manufactured durable goods fell for two consecutive months. In September orders fell 1.3%, to $241.6 billion, while in August they plummeted 18.3%.
The largest drop came from transportation equipment which fell 3.7%. Aside from transportation, new orders decreased .2%.
Overall shipments increased .1%, while capital goods shipments rose .3%. Unfilled orders increased .3%, and inventories rose .4% in September 2014.
Questions or comments? Please contact Melanie Garza at mgarza@teamCOACT.com.