Industrial production for May 2023
- Prior month industrial production and 0.5%. Prior month capacity utilization at 79.7% revised to 79.8%
- Industrial production -0.2% versus 0.1%. This was the largest decline on the year (lowest since December)
- Capacity utilization 79.6% versus 79.7% expected. Prior month revised to 79.8%. January was the low at 79.57.
- Manufacturing output MoM 0.1% versus 0.1% expected. Prior month revised to 0.9% from 1.0%
- Mining output -0.4% versus 0.3% last month. Utilities output -1.8% versus -1.8% last month
- Motor vehicle assembly rate rose to 11.43 million units per year versus 11.37 million units per year last month
- Industrial production ex cars/parts -0.2% versus unchanged in April
Weaker data in the manufacturing sector.
Earlier today the Empire manufacturing index came in better than expected at 6.6 versus -15.0 expected and -31.8 last month. The Philly Fed manufacturing index came in New York expectations at -13.7 versus -13.9. Prior month was -10.4.
/Inflation