Economy
January 16, 2015
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 106.51 for December a decline of 0.1 percent from November. The three month moving average (3MMA) was 106.13 which was the highest value ever and the seventh straight month where the growth of the 3MMA exceeded 4 percent year over year. This was the highest growth in the 3MMA since February 2011 and was the fifteenth consecutive month for the index to exceed the pre-recession peak of September 2007. The 3MMA was up by 4.8 percent year over year in December. Data is seasonally adjusted and the index is based on the July 2007 level being defined as 100, (Figure 1).
