THE BASIS POINT

Industrial Production/ Manufacturing down.

 

Empire State Manufacturing Survey (April 2016)

–  General Business Conditions Index 9.56. Previous was +0.62.
This is the result of a survey of manufacturers in New York State.  While manufacturing is no longer very important to the economy of New Your folks look at the because it is the first regional manufacturing release each month.

 
Industrial Production (March 2016)

– Production month/month -0.6%. Previous was -0.6 %
– Manufacturing month/month  -0.3%. Previous was -0.1%
– Capacity Utilization Rate   74.8%. Previous was 75.3%

Industrial Production includes utility output which is weather dependent but manufacturing was down an February was revised from a small gain to a small loss.  Manufacturing includes mining and oil production.

 

Consumer Sentiment (April 2016)

 

– Sentiment Index 89.7. Previous was 91.0.
This is the University of Michigan Sentiment Index.  It is supposed to forecast Consumer Spending 3-6 months from now.

 

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