EmailStory Stocks®
Archive
Last Update: 16-Nov-11 09:45 ET
Industrial Production Surges on Strong Manufacturing and Utilities Production
Following a downwardly revised 0.1% decline in September (from +0.2%), industrial production spiked 0.7% in October. The Briefing.com consensus expected production to increase 0.4%.
Manufacturing production increased a healthy 0.5% in October after increasing 0.3% in September. The strong growth in the manufacturing sector was slightly at odds with the national ISM data, which showed industrial production slowing down and nearing a potential contraction.
Gains in manufacturing were seen across the board as every major market group with the exception of energy saw substantial gains.
Motor vehicle manufacturing increased 3.1% in October. That was the largest gain since a 4.5% increase in July.
Auto and light truck assemblies increased from 8.49 mln SAAR in September to 9.05 mln SAAR in October. That was the first time since July 2008 that motor vehicle manufacturers produced more than 9.0 mln vehicles. There is still room for growth as assemblies averaged over 11.0 mln SAAR prior to the recession.
Mining production rebounded 2.3% after falling 0.5% in September. Utilities production fell 0.1% in October, which was the third consecutive monthly decline.
Manufacturing production increased a healthy 0.5% in October after increasing 0.3% in September. The strong growth in the manufacturing sector was slightly at odds with the national ISM data, which showed industrial production slowing down and nearing a potential contraction.
Gains in manufacturing were seen across the board as every major market group with the exception of energy saw substantial gains.
Motor vehicle manufacturing increased 3.1% in October. That was the largest gain since a 4.5% increase in July.
Auto and light truck assemblies increased from 8.49 mln SAAR in September to 9.05 mln SAAR in October. That was the first time since July 2008 that motor vehicle manufacturers produced more than 9.0 mln vehicles. There is still room for growth as assemblies averaged over 11.0 mln SAAR prior to the recession.
Mining production rebounded 2.3% after falling 0.5% in September. Utilities production fell 0.1% in October, which was the third consecutive monthly decline.
