Production Increases 3.8% in December 2013

According to the Federal Reserve, the durable goods industrial production index was 104.1 in December 2013. This was an all-time record for the month of December. The month-over-month rate of growth was 3.8%. The rate of growth the last five months has been faster than it was the previous six months. The annual rate of change has been essentially flat since August 2013.

One of the best leading indicators for durable goods production is capital goods new orders. Month-over-month capital goods new orders have grown faster six of the last eight months. And, the annual rate of change has been generally improving since March 2013. This indicates that durable goods production should begin growing faster very soon.

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 Growth: appliances; furniture manufacturing; industrial motors, hydraulics and mechanical components; machinery and equipment; metalcutting job shops; petrochemical processors; power generation; pumps, valves, and plumbing products; ship building

Decelerating Growth: aerospace; automotive; construction materials; custom processors; durable goods; electronics, computers, and telecommunications; food and beverage processing; forming and fabricating (non-auto); hardware; HVAC; medical; military; oil, gas-field, and mining machinery; plastics and rubber; wood and paper products

Accelerating Contraction: off-road and construction machinery

Decelerating Contraction: primary metals; printing; textiles, clothing and leather goods