Durable Goods Production Grows 0.8 Percent
(Neutral) The durable goods industrial production index was 109.5 in June 2016. That was the highest level ever for the index. The one-month rate of change, 0.8 percent, grew for the fourth time in six months. However, the one-month rate of change has been more than +/- 1.0 just two times since March 2015. The annual rate of change inched up to 0.1 percent.
The best leading indicators for durable goods production are housing permits, durable goods new orders, and consumer durable goods spending. Housing permits contracted for the second month in a row. The one-month rate of change in durable goods new orders has grown three of the last four months. So, the annual rate of change seemed to have bottomed out. Durable goods spending grew at a below average rate seven of the last eight months.
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: 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;blog comments powered by Disqus