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by Calculated Threat on 9/16/2025 09:15:00 AM
From the Fed: Industrial Manufacturing and Capability Utilization
Industrial manufacturing (IP) ticked up 0.1 p.c in August after lowering 0.4 p.c in July. Manufacturing output rose 0.2 p.c in August after edging down 0.1 p.c in July. Inside manufacturing, the manufacturing of motor autos and components elevated 2.6 p.c in August, whereas manufacturing facility output elsewhere edged up 0.1 p.c. The index for mining moved up 0.9 p.c, and the index for utilities decreased 2.0 p.c. At 103.9 p.c of its 2017 common, complete IP in August was 0.9 p.c above its year-earlier degree. Capability utilization maintained the identical fee of 77.4 p.c in August, a fee that’s 2.2 share factors beneath its long-run (1972–2024) common.
emphasis added
Click on on graph for bigger picture.
This graph reveals Capability Utilization. This collection is up from the report low set in April 2020, and near the extent in February 2020 (pre-pandemic).
Capability utilization at 77.4% is 2.2% beneath the typical from 1972 to 2023. This was at consensus expectations.
Notice: y-axis does not begin at zero to raised present the change.
The second graph reveals industrial manufacturing since 1967.
Industrial manufacturing elevated to 103.9. That is above the pre-pandemic degree.
Industrial manufacturing was barely beneath consensus expectations (with revisions).
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