by Calculated Threat on 8/15/2025 09:15:00 AM
From the Fed: Industrial Manufacturing and Capability Utilization
Industrial manufacturing (IP) edged down 0.1 p.c in July. Manufacturing output was unchanged after rising 0.3 p.c in June. In July, the index for mining declined 0.4 p.c, and the index for utilities decreased 0.2 p.c. At 104.0 p.c of its 2017 common, whole IP in July was 1.4 p.c above its year-earlier stage. Capability utilization moved right down to 77.5 p.c in July, a price that’s 2.1 share factors beneath its long-run (1972–2024) common.
emphasis added
Click on on graph for bigger picture.
This graph exhibits Capability Utilization. This sequence is up from the report low set in April 2020, and near the extent in February 2020 (pre-pandemic).
Capability utilization at 77.5% is 2.1% beneath the typical from 1972 to 2023. This was barely beneath consensus expectations.
Be aware: y-axis does not begin at zero to raised present the change.
The second graph exhibits industrial manufacturing since 1967.
Industrial manufacturing decreased to 104.0. That is above the pre-pandemic stage.
Industrial manufacturing was barely above consensus expectations.
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