The February Industrial production, (IP) report was better than analyst’s expectation, gaining 1.1% month on month, (m/m). This after a disappointing negative 0.3% change in January. On a three month moving average, (3MMA) of IP moved-up 0.4% m/m.

The U.S. Census Bureau reported yesterday that; new orders for durable goods orders fell 3.7% in January. This was far worse that analyst’s consensus expectations and the first decline since October. Most of the weakness was in the volatile nondefense aircraft and defense sector.

The December Industrial production, (IP) increase was revised downward from +0.9% to +0.4%. The monthly percentage change in January was -0.1%, however, the three month moving average, (3MMA) of IP moved-up 0.3% in January. On a year on year, (y/y) basis, the IP index was up 2.8%.

Manufacturing capacity utilization (MCU), scored a 76.4% in November, up 0.12% month on month, (m/m), its third consecutive monthly increase. On a year on year (y/y) comparison the MCU was up 2.2%.

Industrial production moved-up 0.2% in November, month on month, (m/m) a bit shy of analyst’s consensus forecast, but its third consecutive monthly increase. Overall capacity utilization as well as manufacturing each gained 0.1 percentage point for the month.

Manufacturing capacity utilization advanced by 0.9 index points to reach its highest level since June 2008. Capacity utilization for manufacturing was 76.4% in October, a rate that is 2.0 percentage points below its long-run average.