Economy
December 15, 2014
Industrial Production and Manufacturing Capacity Utilization
Written by Peter Wright
Both these data points are reported in the Federal Reserve G17 data base. The IP index was reported as 106.66 for November an increase of 1.26 percent from October. The three month moving average (3MMA) was 105.75 which was the highest value ever and the sixth straight month where the growth of the 3MMA exceeded 4 percent year over year. This was the fourteenth consecutive month for the index to exceed the pre-recession peak of September 2007. The 3MMA is up by 4.7 y / y. Data is seasonally adjusted and the index is based on the July 2007 level being defined as 100, (Figure 1).
