US October industrial production 1.6% versus 0.7% estimate

US October industrial production and capacity utilization data

• prior was -1.3%
  
• industrial production 1.6%  versus 0.7% estimate.
  
• capacity utilization 76.4% versus 75.9% estimate.
  
• prior capacity utilization 75.2%
  
• Manufacturing production 1.2% versus 0.7% estimate. Last month manufacturing production came in at -0.7%
  
• For the full report from the Federal Reserve CLICK HERE

The data is much stronger than expectations. Last month, the data was much weaker than expectations (e.g. Capacity Utilization was expected at 76.5 but came in at 75.2% last month. The industrial production was expected at +0.2% but came in at -1.3%).  

The rebound brings the data more or less back in line, and suggest that dip last month may have been supply chain issues. Regardless, it is a positive on top of the better retail sales released earlier .

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November 17, 2021 at 02:15AM
Greg Michalowski
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