U.S. Industrial Production Climbs More Than Expected As Utilities Output Spikes

RTTNews | 692 дней спустя

(RTTNews) - Industrial production in the U.S. increased by more than expected in the month of March, according to a report released by the Federal Reserve on Friday.

The Fed said industrial production climbed by 0.4 percent in March after edging up by a revised 0.2 percent in February.

Economists had expected industrial production to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.

The bigger than expected increase in industrial production came as utilities output spiked by 8.4 percent in March after falling by 0.7 percent in February, as the return to more seasonal weather after a mild February boosted the demand for heating.

Meanwhile, the report showed manufacturing output fell by 0.5 percent in March after climbing by an upwardly revised 0.6 percent in February.

The Fed said mining output also slid by 0.5 percent in March following a 1.0 percent slump in the previous month.

"Industrial production rose more than either we or the consensus anticipated in March but this doesn't warrant any change to the baseline forecast as the strength was concentrated utilities, which is extremely sensitive to fluctuations in weather," said Ryan Sweet, Chief U.S. Economist at Oxford Economics.

The report also said capacity utilization in the industrial sector edged up to 79.8 percent in March from an upwardly revised 79.6 percent in February.

Capacity utilization in the utilities sector jumped to 75.3 percent, while capacity utilization in the manufacturing and mining sectors fell to 78.1 percent and 91.1 percent, respectively.

Тэгов: USD

U.S. Trade Deficit Widens More Than Expected In January

Reflecting a spike by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened by more than expected in the month of January.

RTTNews | 5ч 2мин назад

U.S. Weekly Jobless Claims Dip More Than Expected

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 3rd.

RTTNews | 5ч 6мин назад

U.S. Factory Orders Jump Slightly More Than Expected In January

New orders for U.S. manufactured goods surged by slightly more than expected in the month of January, according to a report released by the Commerce Department on Wednesday. The report said factory orders shot up by 1.7 percent in January after falling by a revised 0.6 percent in December. Economists had expected factory orders to jump by 1.6 percent.

RTTNews | 1 дней спустя

U.S. Services Index Unexpectedly Inches Higher In February

The Institute for Supply Management released a report on Wednesday showing an unexpected uptick by its reading on U.S. service sector activity in the month of February. The ISM said its services PMI inched up to 53.5 in February from 52.8 in January, with a reading above 50 indicating growth. Economists had expected the index to edge down to 52.6.

RTTNews | 1 дней спустя

U.S. Private Sector Job Growth Falls Well Short Of Estimates In February

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of February. ADP said private sector employment rose by 77,000 jobs in February after climbing by an upwardly revised 186,000 jobs in January. Economists had expected private sector employment to grow by 140,000 jobs.

RTTNews | 1 дней спустя

U.S. Private Sector Employment Climbs Much Less Than Expected In February

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of February.

RTTNews | 1 дней спустя

U.S. Construction Spending Unexpectedly Dips 0.2% In January

Construction spending in the U.S. unexpectedly edged modestly lower in the month of January, according to a report released by the Commerce Department on Monday. The Commerce Department said construction spending slipped by 0.2 percent to an annual rate of $2.193 trillion in January after climbing by 0.5 percent to a revised rate of $2.196 trillion in December.

RTTNews | 3 дней спустя

U.S. Manufacturing Index Edges Lower But Still Indicates Modest Growth In February

A report released by the Institute for Supply Management on Monday showed its reading on U.S. manufacturing edged slightly lower in February, although the index still indicated growth in the sector for the second straight month. The ISM said its manufacturing PMI slipped to 50.3 in February after rising to 50.9 in January, but a reading above 50 still indicates growth.

RTTNews | 3 дней спустя

EURUSD	1.08254	GBPUSD	1.28953	AUDUSD	0.63365
USDJPY	147.583	USDCAD	1.4357	USDCHF	0.88605

Advertisement

U.S. Industrial Production Climbs More Than Expected As Utilities Output Spikes