BREAKING: The G-17 "Industrial production rose 1.1 percent in October. The index has recovered much of its 16.5 percent decline from February to April, but output in October was still 5.6 percent lower than its pre-pandemic February level." @BBoason @ARISEtv @THISDAYLIVE
The output of utilities rose 3.9 percent, while the output at mines declined 0.6 percent to a level that was 14.4 percent below its year-earlier reading. At 103.2 percent of its 2012 average, total industrial production was 5.3 percent lower in October than it was a year earlier.
''Capacity utilization for the industrial sector increased 0.8 percentage point in October to 72.8 percent, a rate that is 7.0 percentage points below its long-run (1972–2019) average but 8.6 percentage points above its low in April.'' @federalreserve
Every major market group posted gains in October. The output of consumer goods rose 0.8%, with broad-based gains among its components. After falling >17% between Feb - April, the index for consumer goods rebounded quickly and in Oct. it was within 1.7% of its February level
''Manufacturing output increased 1.0 percent in October; even so, it was about 5 percent below its level in February. The index for durable manufacturing stepped up 0.9 percent''
FED plans to issue annual revision to indexes of ind. prod. (IP) and related measures of capacity utilization early 2021. New annual benchmark data for manuf. for 2017-2018 will be inc., as well as annual data, incl. info on mining of metallic, nonmetallic minerals (except fuels)
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