August industrial production rose for third straight month, up 4.9 percent year-on-year

Industrial production rose 0.4 percent in August for its third consecutive monthly increase. Manufacturing output moved up 0.2 percent on the strength of a 4.0 percent rise for motor vehicles and parts. At 108.2 percent of its 2012 average, total industrial production was 4.9 percent higher in August than it was a year earlier. Capacity utilization for the industrial sector moved up in August to
78.1 percent, a rate that is 1.7 percentage points below its long-run (1972-2017) average.

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Durable goods orders rebounded 0.4 percent in May, up 8.7 percent YTD year-over-year

Orders for durable goods bounced back strongly in May, rising by 0.4 percent. So far in 2018, durable goods orders have risen 8.7 percent versus the same period of 2017.

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May industrial production edged down 0.1 percent but still up 3.5 percent year-on-year

Industrial production edged down 0.1 percent in May after rising 0.9 percent in April. At 107.3 percent of its 2012 average, total industrial production was 3.5 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to
77.9 percent, a rate that is 1.9 percentage points below its long-run (1972-2017) average.

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April durable goods orders dipped 1.7 percent due to decline in aviation

Although durable-goods orders fell 1.7% April, that decline was mostly due to falling orders for planes.  Orders minus transportation rose 0.9%, for the third consecutive monthly gain.

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Gallup: More Americans see AI as a greater threat than immigration and offshoring

More than half of Americans (58%) say technology poses a greater threat to jobs in the U.S. over the next decade, while 42% see immigration and offshoring as the greater threat. Republicans, who see immigration and offshoring as roughly an equal threat as technology, are the only subgroup of Americans not to see technology as a greater threat.

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Leading Economic Index rose again in April

The Leading Economic Index for the U.S. increased 0.3 percent in April to 126.9 (2010 = 100), following a 0.3 percent increase in March, and a 0.5 percent increase in February.

While the majority of leading indicators have been contributing positively in recent months, housing permits followed by average workweek in manufacturing have been the sources of weakness among the U.S. LEI components.