Latest news with #factoryproduction
Zawya
2 days ago
- Business
- Zawya
US manufacturing production stalls in July
U.S. factory production was unchanged in July suggesting manufacturing activity was stalling as businesses navigate higher costs from import tariffs. The unchanged reading in manufacturing output reported by the Federal Reserve on Friday followed an upwardly revised 0.3% increase in June. Economists polled by Reuters had forecast production for the sector, which accounts for 10.2% of the economy, dipping 0.1% after a previously reported 0.1% gain in June. Production at factories increased 1.4% on a year-over-year basis in July. Motor vehicle and parts output slipped 0.3% last month after falling 2.5% in June. Automobile manufacturers typically shut down production lines in July for the summer break as well as maintenance and retooling for new models. Excluding motor vehicles, factory output fell 0.1% after rising 0.5% in June. "Tariffs on various inputs to production, in particular steel and aluminum inputs, could mean longer or more broad-based shutdowns this summer," said Veronica Clark, an economist at Citigroup. President Donald Trump has imposed a 50% duty on steel and aluminum as well as a 25% tax on motor vehicles and parts. Trump has defended the duties as necessary to revive a long-declining U.S. industrial base, though economists argue that cannot be accomplished in a short period of time, citing high production and labor costs as among the challenges. There were solid increases in the production of electrical equipment, appliances and components, aerospace and miscellaneous transportation equipment as well as furniture and related products. But production of primary metals and machinery declined. Durable goods manufacturing production rose 0.3%. Nondurable manufacturing output decreased 0.4%, with production falling across all categories. Mining output fell 0.4% after easing 0.3% in the prior month. Utilities production slid 0.2%. That followed a 1.8% surge in June. Overall industrial production fell 0.1% after rising 0.4% in June. Industrial output advanced 1.4% on a year-over-year basis. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, declined to 77.5% from 77.7% in June. It is 2.1 percentage points below its 1972–2024 average. The operating rate for the manufacturing sector slipped to 76.8% from 76.9% in June. It is 1.4% percentage points below its long-run average. (Reporting by Lucia Mutikani; Editing by Andrea Ricci)
Yahoo
3 days ago
- Business
- Yahoo
US manufacturing production stalls in July
WASHINGTON (Reuters) -U.S. factory production was unchanged in July suggesting manufacturing activity was stalling as businesses navigate higher costs from import tariffs. The unchanged reading in manufacturing output reported by the Federal Reserve on Friday followed an upwardly revised 0.3% increase in June. Economists polled by Reuters had forecast production for the sector, which accounts for 10.2% of the economy, dipping 0.1% after a previously reported 0.1% gain in June. Production at factories increased 1.4% on a year-over-year basis in July. Motor vehicle and parts output slipped 0.3% last month after falling 2.5% in June. Automobile manufacturers typically shut down production lines in July for the summer break as well as maintenance and retooling for new models. Excluding motor vehicles, factory output fell 0.1% after rising 0.5% in June. "Tariffs on various inputs to production, in particular steel and aluminum inputs, could mean longer or more broad-based shutdowns this summer," said Veronica Clark, an economist at Citigroup. President Donald Trump has imposed a 50% duty on steel and aluminum as well as a 25% tax on motor vehicles and parts. Trump has defended the duties as necessary to revive a long-declining U.S. industrial base, though economists argue that cannot be accomplished in a short period of time, citing high production and labor costs as among the challenges. There were solid increases in the production of electrical equipment, appliances and components, aerospace and miscellaneous transportation equipment as well as furniture and related products. But production of primary metals and machinery declined. Durable goods manufacturing production rose 0.3%. Nondurable manufacturing output decreased 0.4%, with production falling across all categories. Mining output fell 0.4% after easing 0.3% in the prior month. Utilities production slid 0.2%. That followed a 1.8% surge in June. Overall industrial production fell 0.1% after rising 0.4% in June. Industrial output advanced 1.4% on a year-over-year basis. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, declined to 77.5% from 77.7% in June. It is 2.1 percentage points below its 1972–2024 average. The operating rate for the manufacturing sector slipped to 76.8% from 76.9% in June. It is 1.4% percentage points below its long-run average.
Reuters
3 days ago
- Business
- Reuters
US manufacturing production stalls in July
WASHINGTON, Aug 15 (Reuters) - U.S. factory production was unchanged in July suggesting manufacturing activity was stalling as businesses navigate higher costs from import tariffs. The unchanged reading in manufacturing output reported by the Federal Reserve on Friday followed an upwardly revised 0.3% increase in June. Economists polled by Reuters had forecast production for the sector, which accounts for 10.2% of the economy, dipping 0.1% after a previously reported 0.1% gain in June. Production at factories increased 1.4% on a year-over-year basis in July. Motor vehicle and parts output slipped 0.3% last month after falling 2.5% in June. Automobile manufacturers typically shut down production lines in July for the summer break as well as maintenance and retooling for new models. Excluding motor vehicles, factory output fell 0.1% after rising 0.5% in June. "Tariffs on various inputs to production, in particular steel and aluminum inputs, could mean longer or more broad-based shutdowns this summer," said Veronica Clark, an economist at Citigroup. President Donald Trump has imposed a 50% duty on steel and aluminum as well as a 25% tax on motor vehicles and parts. Trump has defended the duties as necessary to revive a long-declining U.S. industrial base, though economists argue that cannot be accomplished in a short period of time, citing high production and labor costs as among the challenges. There were solid increases in the production of electrical equipment, appliances and components, aerospace and miscellaneous transportation equipment as well as furniture and related products. But production of primary metals and machinery declined. Durable goods manufacturing production rose 0.3%. Nondurable manufacturing output decreased 0.4%, with production falling across all categories. Mining output fell 0.4% after easing 0.3% in the prior month. Utilities production slid 0.2%. That followed a 1.8% surge in June. Overall industrial production fell 0.1% after rising 0.4% in June. Industrial output advanced 1.4% on a year-over-year basis. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, declined to 77.5% from 77.7% in June. It is 2.1 percentage points below its 1972–2024 average. The operating rate for the manufacturing sector slipped to 76.8% from 76.9% in June. It is 1.4% percentage points below its long-run average.
Yahoo
16-07-2025
- Business
- Yahoo
US manufacturing output edges up in June
WASHINGTON (Reuters) -U.S. factory production edged up in June as a decline in motor vehicle output was offset by gains elsewhere, though manufacturing remains constrained by tariffs on imports. Manufacturing output ticked up 0.1% last month after an upwardly revised 0.3% increase in May, the Federal Reserve said on Wednesday. Economists polled by Reuters had forecast production unchanged after a previously reported 0.1% gain in May. Production at factories increased 0.8% on a year-over-year basis in June. It grew at a 2.1% annualized rate in the second quarter after expanding at a 3.7% pace in the January-March quarter. President Donald Trump's aggressive tariffs, including a 50% duty on steel and aluminum as well as a 25% tax on motor vehicles and parts, continued to overshadow manufacturing, which accounts for 10.2% of the U.S. economy. Trump last week announced that higher duties would come into effect on August 1 for imports from a range of countries, including Mexico, Japan, Canada and Brazil, as well as the European Union. Trump has defended the duties as necessary to revive a long-declining U.S. industrial base, but economists say that cannot be accomplished in a short period of time, citing high production and labor costs as among the challenges. Motor vehicle and parts output dropped 2.6% last month after rebounding 4.6% in May. Production of aerospace and miscellaneous transportation equipment rose 1.6% while output of primary metals increased 3.1%. Durable goods manufacturing production was unchanged. Nondurable manufacturing output rose 0.3%, lifted by a 2.9% increase in the production of petroleum and coal products. Mining output fell 0.3% after climbing 0.1% in the prior month. Utilities production rebounded 2.8% as a heat wave across the country boosted demand for air conditioning. That followed a 2.5% drop in May. Overall industrial production increased 0.3% after being unchanged for two straight months. Industrial output advanced 0.7% on a year-over-year basis. It increased at a 1.1% rate in the second quarter, slowing from the 4.3% pace notched in the first quarter. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, increased to 77.6% from 77.5% in May. It is 2.0 percentage points below its 1972–2024 average. The operating rate for the manufacturing sector edged up to 76.9% from 76.8 in May. It is 1.3% percentage points below its long-run average. (Reporting By Lucia Mutikani; Editing by Mark Porter) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-06-2025
- Business
- Yahoo
US manufacturing output barely rises in May
WASHINGTON (Reuters) -U.S. factory production barely rose in May as a surge in motor vehicle and aircraft output was partially offset by weakness elsewhere, and the outlook for manufacturing remains clouded by tariffs. Manufacturing output edged up 0.1% last month after a downwardly revised 0.5% decline in April, the Federal Reserve said on Tuesday. Economists polled by Reuters had forecast production rebounding 0.2% after a previously reported 0.4% drop. Production at factories increased 0.5% on a year-over-year basis in May. President Donald Trump's shifting tariffs policy poses a significant headwind to manufacturing, which accounts for 10.2% of the economy and relies heavily on imported raw materials. Trump recently doubled steel and aluminum duties to 50% from 25%. The array of tariffs includes a 25% tax on motor vehicles and parts. Trump has defended the duties as necessary to revive a long-declining U.S. industrial base, but economists say that cannot be accomplished in a short period of time, citing high production and labor costs as among the challenges. Motor vehicle and parts output accelerated 4.9% last month after declining 2.3% in April. Production of aerospace and miscellaneous transportation equipment increased 1.1%. But output of fabricated metal products, machinery and nonmetallic mineral products all posted declines of at least 1.0%. Durable manufacturing production rose 0.4%. Nondurable manufacturing production dropped 0.2%, pulled down by decreases in the output of printing and support, petroleum and coal as well as food, beverage and tobacco products. Nondurable consumer goods production fell 0.8% amid a 3.2% plunge in energy nondurable consumer goods. Mining output ticked up 0.1% after falling 0.3% in the prior month. Utilities production fell 2.9%, with a 3.6% decline in electric utilities output more than offsetting a 2.7% increase in natural gas utilities output. That followed a 4.9% surge in April. Overall industrial production fell 0.2% after gaining 0.1% in April. It rose 0.6% on a year-over-year basis in May. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, fell to 77.4% from 77.7% in April. It is 2.2 percentage points below its 1972–2024 average. The operating rate for the manufacturing sector was unchanged at 76.7%. It is 1.5 percentage points below its long-run average. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
