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Friday, June 15, 2007

Industrial Production

by Calculated Risk on 6/15/2007 12:29:00 PM

This is really just an excuse to graph a long running series (see second graph). Industrial production data is available since 1919!

MarketWatch reports: U.S. industrial output flat in May

Output at the nation's mines, factories, and utilities was flat in May, the Federal Reserve said. In addition, production was weaker in April that initially estimated ...

Analysts said the report had a soft tone, but said they still expected production to pick up in the next few months.

"With the inventory correction having run its course, the manufacturing sector should be poised for faster growth ahead," said Michelle Girard, an economist at RBS Greenwich Capital in a research note.
Industrial ProductionClick on graph for larger image.

This is just more of the mixed data that we have seen recently. This graph shows the year-over-year change in Industrial Production.

The numbers are weak, but not recessionary weak - like many economic numbers, excluding housing (housing is in a depression).

Industrial Production And here is the same graph since 1919.

The huge swings in industrial production are no longer a feature of the U.S. economy.

NOTE: Several readers have asked about Tanta. She is a little exhausted, but "nothing frightening". I'm sure she will return soon.