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Manufacturing & Production

Industrial production, capacity utilization, factory orders, capital-goods shipments, and electricity generation — the hard data on whether the productive economy is expanding. Sourced live from the Fed G.17, Census M3 (via FRED), BLS CPI, and the EIA.

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U.S. Industrial Production — Monthly
Index 2017=100, SA — MoM % bars + Total YoY % line
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Source: Federal Reserve G.17 — industrial production, total / manufacturing / mfg ex. motor vehicles.
Industrial Production — Long Run
YoY % line (left); MoM % bars (right)
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Source: Federal Reserve G.17 — total industrial production index.
Capacity Utilization
Percent of potential output in use, SA — lower = more slack
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Source: Federal Reserve G.17 — TCU (total) and MCUMFN (manufacturing).
U.S. Factory Orders — Monthly % Change
Manufacturers' new orders, SA — total / core / durable / core durable / nondurable / core capex
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Source: U.S. Census Bureau M3 via FRED.
Advance Durable Goods — New Orders
Census M3 advance report, SA, MoM % — Defense on right axis at a fixed 3:1 scale
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Source: U.S. Census Bureau, Advance Report on Durable Goods (M3). DGORDER / ADXTNO / ADXDNO / NEWORDER / ANXAVS, Defense (ADEFNO) on a 3:1 right axis.
Value of Shipments — Capital Goods
Manufacturers' value of shipments, SA, MoM % — nondef. ex aircraft = "core capex"
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Source: U.S. Census Bureau M3 via FRED.
Total Electricity Net Generation
Electric power sector; 12-month moving average; CPI electricity index (right)
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Sources: EIA Monthly Energy Review (net generation); BLS CPI — electricity.