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Industrial Production: Modest Improvement ex Weather-related Utility Slide

March 17, 2017
Bottom Line: Considering positive revisions to January data and removing the declines in the utility sector due to weather, one sees modest improvement in Industrial Production. Industrial output is now growing slightly on a year-over-year basis. Manufacturing output rose again and is 1.2% above its year ago levels. This quarter -- with only January and February data -- IP is 1.1% above its Q4 average, faster than its 0.3% pace from Q3 to Q4.

Industrial Production
In February, Mining OutputUtility Generation
Manufacturing Output
Capacity Utilization