April Durable Goods Production Fastest Growth since February 2015
(Negative) The durable goods industrial production index was 107.4 in April 2016. This was the highest level of production since October. Also, the one-month rate of change, 1.3 percent, was the fastest rate of growth since February 2015. This rate of growth was significantly below average though. The annual rate of growth was unchanged at 0.1 percent, which was the slowest rate of annual growth since July 2010. That was the last time durable goods production contracted.
The best leading indicators for durable goods production are housing permits, durable goods new orders, and consumer durable goods spending. In April, housing permits grew at their slowest rate since October. The one-month rate of change in durable goods new orders has contracted for 12 of the last 14 months, but the annual rate of change may have bottomed out. Durable goods spending is now growing at a below average rate.
We track industrial production and its leading indicators for a number of industries. Click on the links below to see how each industry is faring.
Accelerating Contraction: aerospace; forming/fabricating (non-auto); industrial motors/hydraulics/mechanical components; machinery/equipment; metalcutting job shops; off-road/construction machinery; oil/gas-field/mining machinery; power generation; pumps/valves/plumbing productsblog comments powered by Disqus