Industry Groups
Manufacturing production increased 0.7 percent in December, and the factory operating rate moved up 0.4 percentage point, to 77.8 percent, the highest rate of utilization since December 2000. Nonetheless, the factory operating rate was still more than 2 percentage points below its 1972-2003 average. In December, the production of durable goods increased 0.9 percent. The largest gain among the durable goods industries was in primary metals, in which output rose 3.0 percent. The production of computer and electronic products registered a 1.2 percent gain, and its level was 16.4 percent higher than a year earlier. Among the selected high-technology industries, the output of computer and peripheral equipment continued to expand at a monthly pace of about 1-1/2 percent; increases in the production of semiconductor and related electronic components strengthened for a second month in December after decelerating, on balance, over the previous eight months. The indexes for most other major categories of durable goods increased in December; the exceptions include wood products, which moved down for a second month, and electrical equipment, appliances, and components, which turned back down. The production of nondurable goods, which rose 0.3 percent, included output gains of at least 1 percent for textile and product mills, paper, and petroleum and coal products. Smaller production increases were posted in food, beverage, and tobacco products; apparel and leather; and printing and support. The production of chemicals edged down, and the output of plastics and rubber products was unchanged. production in the non-NAICS manufacturing industries (logging and publishing) jumped 1.2 percent.In December, the higher level of utilities output reflected a 3.0 percent increase in the output of electric utilities and a 1.3 percent rise in the output of natural gas utilities. The small gain in mining output was primarily the result of increases in crude oil extraction and coal mining. capacity utilization for industries in the crude stage of processing rose 0.6 percentage point, to 86.4 percent, a rate that is equal to its 1972-2003 average. The operating rate for industries in the primary and semifinished stages increased 0.8 percentage point, to 80.6 percent, and the utilization rate for finished goods producers increased 0.4 percentage point, to 76.1 percent.
---
If you would like to contact the Economics Guide you can do so by using the Feedback Form.
