Tag: output

Manufacturing Production Edged Marginally Higher in March

Manufacturing production increased 0.1 percent in March, according to the Federal Reserve Board. This followed three months of weaker data, including declines in both January and February. There have been some significant headwinds hitting the manufacturing sector over the past few months, including a strong U.S. dollar, weakened economic markets abroad, lower crude oil prices, the West Coast ports slowdown and weather. It is clear that these challenges have slowed activity in the sector since November. The year-over-year pace of manufacturing production in March was 2.4 percent, down from 4.5 percent in November. In addition, manufacturing capacity utilization was unchanged at 77.1 percent, down from 78.1 percent in November. (continue reading…)

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Markit: Chinese Manufacturing Activity Declined Again

The HSBC Flash China Manufacturing PMI reflected reduced activity again, down from 50.7 in February to 49.2 in March. It has contracted in three of the past four months now, reflecting a decelerated rate of growth in China. China has reduced its target real GDP growth rate for 2015 to 7 percent. New orders (down from 50.4 to 49.3), exports (up from 47.1 to 49.0) and employment (down from 49.3 to 47.0) were all below 50 in March – the threshold signifying growth. It was the reduction in demand that pushed the headline index lower. On the positive side, output (unchanged at 50.8) continues to expand very modestly for the month, and the decrease in input prices (up from 42.2 to 44.7) have helped manufacturers in terms of costs, even as the rate of decline was less in March. (continue reading…)

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Chinese Manufacturing Shifted to a Marginal Expansion in February

The HSBC Flash China Manufacturing PMI shifted to a marginal expansion in February, improving slightly after contracting for two straight months. The headline index increased from 49.7 in January to 50.1 in February. The underlying data were mixed. New orders (down from 50.8 to 50.4) and output (up from 50.1 to 50.8) grew slowly for the month, even as the pace of sales slipped a bit. At the same time, new export orders (down from 51.1 to 47.1) and employment (up from 49.1 to 49.3) declined on net. Export sales, in particularly, deteriorated to their lowest level since August 2013, which was disappointing. The index for hiring, which has contracted now for 24 consecutive months, increased to a 7-month high, with the pace of the decline decreasing. Final PMI data will be come out on Monday, March 2.    (continue reading…)

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Markit: European Manufacturing Activity Improved in February Ever-So-Slightly

The Markit Flash Eurozone Manufacturing PMI edged ever-so-slightly higher, up from 51.0 in January to 51.1 in February. This suggests very modest growth in manufacturing activity in February, with better data for new orders (up from 50.6 to 50.9), output (up from 52.1 to 52.2) and exports (up from 50.7 to 51.8). Hiring in the Flash Eurozone Composite PMI, which includes all segments of the economy, rose to its highest level since August 2011, but this was primarily in the service sector. Indeed, for manufacturers, the pace of employment growth was unchanged in February at 50.6. (continue reading…)

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Manufacturing Production Edged Marginally Higher in January

Manufacturing production edged marginally higher in January, up 0.2 percent, according to the Federal Reserve Board. This represented an improvement from being flat in December, and yet, these data also suggest that output in the sector has been quite soft in both December and January. On the positive side, manufacturing production has risen a whopping 5.6 percent over the past 12 months.  Of course, sharply reduced output in January 2014 due to a number of winter storms helped to buoy this year-over-year figure. Still, the year-over-year pace last month was 4.3 percent, illustrating decent growth in manufacturing output last year overall. (continue reading…)

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Manufacturing Production Rose 0.3 Percent in December, with 4.9 Percent Growth Year-over-Year

The Federal Reserve Board said that manufacturing production increased 0.3 percent in December, a slower pace than 1.3 percent growth rate observed in November. As such, it was a softer-than-desired end to the year in terms of output. On the positive side, it was the fourth straight monthly expansion for manufacturing production, and the sector has experienced a healthy 4.9 percent increase in output in 2014. That is more than double the year-over-year pace observed in December 2013 of 2.3 percent, for instance, illustrating the significant gains in production and in the outlook made over the past year. Manufacturers continue to be mostly upbeat about 2015, even as they are keenly aware of possible downward risks, especially in global markets. (continue reading…)

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Markit: Chinese Manufacturing Activity Contracted for the First Time Since May

The Chinese economy continues to slow, with the HSBC Flash China Manufacturing Purchasing Managers’ Index (PMI) contracting for the first time since May. The headline index declined from 50.0 in November to 49.5 in December. New orders (down from 51.3 to 49.6), output (up from 49.6 to 49.7) and employment (up from 48.7 to 48.9) were below 50 – the threshold signifying reduced activity – in December, with production declining for the second straight month. On the positive side, new export orders (up from 51.1 to 51.7) were still growing somewhat modestly. As such, this report suggests that the Chinese economy is ending 2014 much as it began it, with softness in the manufacturing sector. (continue reading…)

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Manufacturing Production Jumped Higher in November

Manufacturing production was up sharply in November, increasing 1.1 percent after a softer-than-desired autumn. More importantly, production in the sector has risen a relatively healthy 4.8 percent over the past 12 months, suggesting healthy gains over the past year in terms of output. This data tends to mirror other reports, including the latest NAM/IndustryWeek survey, that show manufacturers relatively upbeat about new orders and output as we are about to move into the new year. These stronger gains should bode well for the coming months, we hope, even as business leaders grapple with continuing global economic uncertainties.

Capacity utilization for manufacturers was also higher, up from 77.6 percent in October to 78.4 percent. This was the highest utilization rate since December 2007, the first month of the Great Recession. (continue reading…)

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Revised Manufacturing Productivity Data Show 2.9 Percent Growth in the Third Quarter

The Bureau of Labor Statistics said that productivity in the manufacturing sector increased 2.9 percent in the third quarter. This was slightly lower than the original estimate of 3.2 percent growth. Manufacturing output rose 4.2 percent in the third quarter, with unit labor costs down 1.3 percent. On a year-over-year basis, labor productivity has increased 2.7 percent, with unit labor costs down 0.5 percent. Higher productivity has helped to improve U.S. manufacturers’ overall global competitiveness, with unit labor costs in the sector down 6.3 percent since the recession. (continue reading…)

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Markit: Chinese and European Economies Stalled in November

The HSBC Flash China Manufacturing Purchasing Managers’ Index (PMI) fell to neutral (50) in November, down from 50.4 in October. This was the weakest reading since Chinese respondents noted contracting levels of activity from January through May. Indeed, output contracted once again (down from 50.7 to 49.5) for the first time since May, which was not a good sign. Hiring (down from 48.9 to 48.4) was also negative for the 13th straight month. On the positive side, new orders (up from 51.2 to 51.4) edged slightly higher, and exports (down from 51.7 to 50.5) continued to expand, albeit at a much slower pace. (continue reading…)

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