U.S. Industrial Production Rises 1.1 Percent, Most in Almost Six Years.

Bloomberg ^ | 06/16/04 | Bloomberg

[Pikamax]

U.S. Industrial Production Rose 1.1% in May; Plant-Use at 77.8% June 16 (Bloomberg) -- U.S. industrial production increased 1.1 percent in May, the most in almost six years, as utility output surged and companies made more electronics and business equipment, a report from the Federal Reserve showed.

[Mister Baredog]

More bad news, for Kerry.

Now it's up to his media allies to "bury the story".

[donozark]

Do you or anyone know if the National Bureau of Economic Research (NBER.org) have changed the date of the Clinton Recession? CNN did an article stating they were considering moving date of beginning of recession to November, 2000. Name of article was "Did Recession begin in 2000?"

This would sure raise the fur on the backs of Dims, female Dims as well as male...

[JohnnyZ]

More evidence that we're doomed.

[Cobra64]

Tom Daschle: "I am saddened. Deeply saddened."

[Paradox]

I've already heard the spin on the network news. This rapid economic growth is going to lead to inflation, we're doomed!

[q_an_a]

"Manufacturers added 32,000 jobs last month, the most since a 143,000 jump in August 1998." The 143,000 are returning GM workers not new jobs. Since there are no big airline or factory strikes right now this 32,000 new jobs may be the biggest since Reagan took office.

[ex-snook]

I checked my newspaper to see ads for manufacturing jobs. I found one. We all should check our newspaper. It will separate facts from BS.

[verity]

It is all Bush's fault! ;~)

[Tennessean4Bush]

Industrial Production and Capacity Utilization Rate

Definition
The Index of Industrial Production is a chain-weight measure of the physical output of the nation's factories, mines and utilities. The capacity utilization rate reflects the usage of available resources.

Released on 6/16/04 For May 2004
Industrial Production
Consensus 1.0 %
Actual 1.1 %

Capacity Utilization Rate
Consensus 77.6 %
Actual 77.8 %

Highlights
U.S. industrial production rose a sharp 1.1 percent in May compared with April (6.3 percent year-on-year), driving capacity utilization 0.7 percent higher to 77.8 percent.

Manufacturing production rose 0.9 percent in the month, confirming other evidence, most notably strong readings in the ISM manufacturing survey, that the sector is on a big upswing.

The other two categories in the report were mixed, with utilities production up 3.3 percent, due to unseasonably warm weather, but mining production down 0.4 percent.

Gains in manufacturing were posted despite weak motor vehicle & parts production, which fell 2.3 percent in the month.

Production of consumer goods was strong though production of durables, including appliances, furniture and carpeting, posted declines.

Production of business equipment rose 1.4 percent in May, led by information processing equipment. Industrial and other equipment rose a sharp 1.5 percent, its seventh straight gain. Machinery output and fabricated metal output were also strong. Such gains suggest that businesses are putting in place equipment to expand production capacity.

Manufacturing capacity, a key player in the unfolding economic recovery, rose a sharp 0.5 percent to 76.4 percent. Though capacity is still abundant, the rate at which it is tightening may be accelerating.

There is evidence that the upswing now underway in the manufacturing sector may be the strongest since the recovery in the early 80s. May's employment data showed a strong gain in the factory workweek to 41.1 hours and a fourth straight month of gains in manufacturing payrolls.

When will capacity restraints drive up prices and drive up capital investment? The economic recovery is still in an early stage, and compared with other recoveries, productivity appears to be unusually strong, a factor that expands existing expand and slows the need for new capacity.

The industrial sector accounts for less than 20 percent of GDP. Yet, it creates much of the cyclical variability in the economy. Data Source: Haver Analytics

The capacity utilization rate reflects the limits to operating the nation's factories, mines and utilities. In the past, supply bottlenecks created inflationary pressures as the utilization rate hit 84 to 85 percent. Data Source: Haver Analytics

[donozark]

I received an email today in answer to my Q. The National Bureau of Economic Research (www.nber.org) has not changed the date of the beginning of the recession and "...has no plans to."

Guess that's final. March 2001. Seemed apparent me that recession began long before that date...