US industrial production for April 0.7% versus 0.3% estimate

• Industrial production prior month -0.5% revised to -0.3%
• Capacity utilization prior month 75.7
• Manufacturing production last month -0.1% revised to +0.1%

For April:

• Industrial production 0.7% versus 0.3% expected. Year on Year industrial production is up 1.4%
• Capacity utilization 76.1% versus 75.8% estimate. The index a year ago was at 76.1% as well.
• Manufacturing output 0.6% versus 0.2% estimate. Year on Year the manufacturing output is up 1.3%, led by utilities which are up 2.7%

Not surprising, utilities are helping with demand for AI increasing.

The major market groups for industrial production:

• Final Products
  • MoM: +1.1% vs -0.6% last month. Higher
  • YoY: +1.4%
• Consumer Goods
  • MoM: +0.9% versus -0.8% last month. Higher
  • YoY: -0.2%
• Business Equipment
  • MoM: +1.5% versus -0.1% last month. Higher
  • YoY: +6.0%
• Nonindustrial Supplies
  • MoM: +0.2% versus +0.5% last month. Lower
  • YoY: +1.5%
• Construction
  • MoM: 0.0% versus +0.9% last month. Lower
  • YoY: +1.2%
• Materials
  • MoM: +0.5% versus -0.4% last month. Higher
  • YoY: +1.2%

Capacity utilization for manufacturing

Capacity utilization for manufacturing moved up 0.4 percentage point to 75.8 percent in April and is now
2.4 percentage points below its long-run (1972–2025) average.

The operating rate for mining edged down
0.1 percentage point to 84.6 percent, and the operating rate for utilities increased 1.1 percentage points to
71.1 percent.

The utilization rates for mining and for utilities were 0.6 percentage point and 12.9 percentage
points below their long-run averages, respectively.

This article was written by Greg Michalowski at investinglive.com.