Industrial Production increased by 0.2% in August to an index value of 93.2 (2007=100), matching expectations, following a 0.6% increase in July, revised downwards from a 1.0% increase. Over the year, the industrial production index is up by 6.2%. Capacity Utilization increased to 74.7% for August from 74.6% in July and was 5.9 percentage points below its average for the period from 1972 through 2009. In August 2009, Capacity Utilization was measured at 70.0%.
Crude inventories are expected today at 10:30 AM EST. For the week ending September 3, U.S. commercial crude oil inventories had decreased by 1.9 million barrelsfrom the previous week to 359.9 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 14.9 million barrels per day during this period, 90 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 8.9 million barrels per day, down by 794 thousand barrels per day from the previous week.
Upcoming Releases
Crude Inventories (09/15 at 10:30 AM EST)
Initial Claims (09/16 at 8:30 AM EST)
PPI (09/16 at 8:30 AM EST)
Net Foreign Purchases(09/16 at 9:00 AM EST)
