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Wednesday, June 29, 2022
HomeNewsEconomyManufacturing and Utilities Weigh Down Industrial Production in April, Q1 Revised Down

Manufacturing and Utilities Weigh Down Industrial Production in April, Q1 Revised Down

Industry production 4.0 and technology concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)
Industry production 4.0 and technology concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)
Industry production 4.0 and technology concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)

Industrial production was down 0.5% in April and output for the first quarter (Q1) is now down at an annualized rate of 1.9%. That includes downward revisions that were a net negative.

Manufacturing production fell 0.5% in April after being unchanged in March. The index for mining rose 1.6%, while the index for utilities fell 3.5%.

At 109.2% of its 2012 average, total industrial production was still 0.9% higher in April than it was a year earlier. Capacity utilization for the industrial sector fell 0.6 percentage point in April to 77.9%, a rate that is 1.9% below its long-run (1972–2018) average.


PriorRevisedConsensus ForecastForecast Range
Production – M/M ∆-0.1%0.2%0.0%-0.5% — 0.4%-0.5%
Manufacturing – M/M0.0%0.1%-0.1% — 0.3%-0.5%
Capacity Utilization Rate78.8%78.5%78.7%78.5% — 79.1%77.9%

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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