Manufacturing Activity October 2013

While showing modest improvement since the spring of this year, actual production data have been weaker than the Purchasing Managers’ Index would suggest. After a strong advance of 0.5 percent in August, manufacturing output growth remained positive but slowed considerably to 0.1 percent in September. Output gains in September were fairly narrow, coming principally from strong production advances in motor vehicles and machinery. Moderation in the pace of the U.S. housing rebound appears to have impacted the production of furniture, which contracted by a fairly sharp 0.7 percent in September. The slowdown in residential investment growth was also a likely contributor to the 1.5 percent contraction in the output of electrical equipment.

We are forecasting that production will increase by 3.2 percent in 2014 and by 4.1 percent in 2015.


Download PowerPoint slides. For members Only Login required.

Publish Date: 
Monday, November 4, 2013