Throughout the years investors have keyed on levels of industrial production in an attempt to identify directional changes in the stock market. We have all watched significant changes in the market attempted to be explained by a corresponding move in industrial production. “The market moved up because…”, or “The Market moved down because…” resonates, when markets move in one direction or the other, on the same day that industrial production numbers have been released. This explanation may be useful on a daily basis, or may be interesting to contemplate, but for longer period analysis it is less certain.
Today we are starting to show the influence of the U.S. Industrial Production on U.S. stocks within the database. Each individual stock’s data sheet will now have a notation titled Industrial Production. Figure 1 provides a cutout of the table that is available through the stock search menu option. The Industrial Production index is an economic indicator that measures real output for all facilities located in the U.S. manufacturing, mining, electric and gas utilities. It also includes newspapers, periodical and book publishing. The index is calculated monthly with a base year of 2002.
Industrial production continues to grow with a 0.2 point increase over last month and 1.6 points from last year. Capacity utilization moved up 0.2% to 76.0% from last month and industrial output advanced 0.1 points. This economic measurement is gradually approaching the long-term average of 79.5%.
Industrial production continues to grow with a 1.1 percent increase over last month. Capacity utilization moved down 0.1% to 76.6%. This economic measurement is gradually approaching the long-term average of 79.5%. We have added capacity utilization to this chart so that the month to month changes in industrial output can be viewed in concert with capacity utilization.
Industrial production continues to grow with a 1 percent increase over last month. Capacity utilization was up 0.6 percentage points to 76.7%. This economic measurement is gradually approaching the long-term average of 79.9%.