Economy
April 24, 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 105.22 for March, down by 0.64 from February. The three month moving average (3MMA) was 105.63, down by 0.34 from February. January was the highest value ever of the 3MMA at 106.11. The Y/Y growth rate of the 3MMA was 3.3 percent in March which broke a string of nine months >4 percent. The last 12 months have experienced the best growth since the post-recession bounce. Data is seasonally adjusted and the index is based on the July 2007 level being defined as 100 (Figure 1).
