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Macro Pulse highlights recent activity and events expected to affect the U.S. economy over the next 24 months. While the review is of the entire U.S. economy its particular focus is on developments affecting the Forest Products industry. Everyone with a stake in any level of the sector can benefit from
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Tuesday, July 24, 2012

June 2012 Industrial Production, Capacity Utilization and Capacity

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Industrial production increased 0.4 percent in June after having declined 0.2 percent in May. In the manufacturing sector, output advanced 0.7 percent in June and reversed a decrease of 0.7 percent in May. In 2Q2012, manufacturing output rose at an annual rate of 1.4 percent, a marked deceleration from its strong gain of 9.8 percent in 1Q. The largest contribution to the increase in 2Q came from motor vehicles and parts, which climbed 18.2 percent; excluding motor vehicles and parts, manufacturing output edged up 0.1 percent. At 97.4 percent of its 2007 average, total industrial production in June was 4.7 percent above its year-earlier level.

Industrial production increased by 0.8 percent for Wood Products and 0.4 percent for Paper.
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Capacity utilization for total industry moved up 0.2 percentage point in June to 78.9 percent, a rate 1.4 percentage points below its long-run (1972--2011) average. As with industrial production, capacity utilization rose for both components of forest products manufacturing: +1.0 percent for Wood Products, and +0.6 percent for Paper.
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Capacity at the all-industries and manufacturing levels crept higher (0.1 percent). By contrast, Wood Products and Paper both dropped by 0.2 percent.

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