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Solid Upward Revisions For Production Measures

US DATA
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  • Industrial production was in line in March as it increased 0.39% M/M (cons 0.4), although it did follow an upward revised 0.44% (initial 0.1%) in Feb.
  • Further, manufacturing production beat eat 0.48% M/M (cons 0.2) after an upward revised 1.19% (initial 0.8%) in Feb.
  • The last two monthly increases have steadied some of the weakness in the measures, with overall IP growth at -1.8% ar on a 3M/3M basis and manufacturing production essentially flat at -0.1% ar.
  • Capacity utilization on the other hand was a little lower than expected at 78.4% (cons 78.5%) after a downward revised 78.2% (initial 78.3%).
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  • Industrial production was in line in March as it increased 0.39% M/M (cons 0.4), although it did follow an upward revised 0.44% (initial 0.1%) in Feb.
  • Further, manufacturing production beat eat 0.48% M/M (cons 0.2) after an upward revised 1.19% (initial 0.8%) in Feb.
  • The last two monthly increases have steadied some of the weakness in the measures, with overall IP growth at -1.8% ar on a 3M/3M basis and manufacturing production essentially flat at -0.1% ar.
  • Capacity utilization on the other hand was a little lower than expected at 78.4% (cons 78.5%) after a downward revised 78.2% (initial 78.3%).