Members:

Here is the Monday Manufacturing Economy Report from NAM Chief Economist Chad Moutray f or 11/20/2017. The Council of Industry, as member organization of the National Association of Manufacturers is happy to share this report with our members. 

Here are some highlights from the report:

"... manufacturing production expanded robustly in October, up 1.3 percent, its fastest monthly pace of growth since April. In October, durable and non-durable goods production rose by 0.4 percent and 2.3 percent, respectively, with the latter rebounding from significant declines in activity in August and September in the chemicals and petroleum and coal products segments due to Hurricanes Harvey and Irma. As a result, manufacturing production has risen by 2.5 percent over the past 12 months, the best year-over-year rate since August 2014. In a similar manner, manufacturing capacity utilized soared from 75.5 percent in September to 76.4 percent in October, a reading not seen since May 2008.

In addition to manufacturing, there were also healthy figures for the housing and retail markets. For instance, new housing starts jumped 13.7 percent to 1,290,000 units at the annual rate in October, its fastest pace in 12 months. That is encouraging news, and yet, it is worth noting that the bulk of that increase stemmed from better multifamily activity, which can often be highly volatile from month to month. Multifamily housing starts soared from 302,000 to 413,000 in this release, the best reading since January. New single-family construction was also higher, up from 833,000 to 877,000, an eight-month high. Single-family starts have largely trended in the right direction, averaging 841,300 year-to-date in 2017 versus 778,200 in the same time period in 2016. Housing permits and builder optimism numbers suggest that residential activity should continue to improve in the coming months, which is promisin g ." Read Chad Moutray's Full Report Here.

Harold King
Executive Vice President
The Council of Industry
6 Albany Post Road
Newburgh, NY 12550
845-565-1355
hking@councilofindustry.org