Auto Production Leads Growth in April Industrial Output
The industrial sector had a solid month for production in April. According to the latest numbers from the U.S. Federal Reserve, industrial production rose by 1.1% last month as manufacturing output increased by 0.8%. Here are some highlights
- In its report, the Fed noted that April now marks the fourth month in a row that has seen industrial production grow by at least 0.8%.
- In April, much of the increased factory production went towards building cars. Motor vehicles and parts production rose by 3.9%.
- Excluding auto production, factory output grew just half a percent.
- Most other durable goods industries also increased production, but by notably less than automotive manufacturers.
- In nondurable goods, food and beverage production continued to grow at 0.9% last month.
- There was a 0.8% decrease in plastics and rubber products production.
- Capacity utilization also grew in April in both industry and manufacturing specifically. Industrial businesses used an average of 79% of their capacity in April, up 0.8% from March, and manufacturing factories specifically saw capacity utilization grow 0.6% to 79.2% last month.
Invasion of Ukraine Headlines
- Ukraine and Russia: the Latest News – Reuters
- Ukrainian Soldiers Lay Down Arms at Mariupol’s Azovstal Steel Plant – WSJ
- US considering Move on Russian Debt Payments – YahooNews
- Kremlin Says G7 Using Russia’s Reserves for Ukraine Would be ‘Outright Theft’ – Reuters
- The Right Way to Sanction Russian Energy – Foreign Affairs
- Ukraine Will Get Worse for Isolated Russia, Analyst Says on State TV – Reuters
- The Putin Show – How the War in Ukraine Appears to Russians – The Economist
- Map – Tracking Russia’s Invasion of Ukraine – Live Universal Awareness Map
U.S. Home-Builder Sentiment Fell Sharply in May Amid Rising Mortgage Rates — NAHB
Confidence among home builders in the U.S. decreased for a fifth straight month in May as rising mortgage rates, increasing material …