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Industrial Production Index
(For July 2024)
102.9
Total Industrial Production Index
-0.19% (YOY)
Published by the Federal Reserve, the Industrial Production Index (IPI) is a monthly metric that gauges the actual production levels in sectors such as manufacturing, mining, and utilities, compared to a reference year.
99.5
Manufacturing
+0.1% (YOY)
118.6
Mining
-1.5% (YOY)
94.0
Business Equipment
-2.1% (YOY)
105.1
Materials
-0.4% (YOY)
100.5
Construction
-0.2% (YOY)
Monthly 2022 vs 2023 vs 2024:
Capacity Utilization
(For July 2024)
77.8
Total Capacity Utilization Index
-2.14% (YOY)
The percentage measure of how efficiently a country or business is using its potential manufacturing and production capabilities.
77.2
Manufacturing
+1.3% (YOY)
88.8
Mining
-0.2% (YOY)
Monthly 2022 vs 2023 vs 2024:
(For July 2024)
3.6%
Manufacturing Unemployment Rate
+33.3% (YOY)
Indicates the percentage of individuals in machinery manufacturing who are 16 years or older and are nonagricultural private wage & salary workers without a job.
2.7%
Machinery
+0% (YOY)
3.2%
Chemical
+77.7% (YOY)
3.9%
Petroleum & Coal
-48% (YOY)
3.5%
Electrical Equipment
+218.1% (YOY)
2.6%
Computer & Electronics
-7.1% (YOY)
5.8%
Food
+114.8% (YOY)
Monthly 2022 vs 2023 vs 2024:
Manufacturing Sector PPI
(For July 2024)
249.7
Manufacturing Producer Price Index
+1.74% (YOY)
The producer price index quantifies the percentage fluctuation in prices that domestic producers receive for goods and services.
184.5
Machinery
+5.51% (YOY)
354.1
Chemical
+0.13% (YOY)
344.9
Petroleum & Coal
+0.06% (YOY)
202.1
Electrical Equipment
+2.44% (YOY)
101.6
Computer & Electronics
+2.48% (YOY)
260.0
Food
+2.67% (YOY)
184.1
Paper
+0.29% (YOY)
Monthly 2022 vs 2023 vs 2024:
July saw significant fluctuations in dry van load post volumes, primarily influenced by retail events such as back-to-school shopping and Amazon Prime Day. Despite a momentary surge in load post volumes early in the month, the overall trend showed a retreat in subsequent weeks. Comparatively, this year’s volumes have occasionally surpassed the average levels from the past seven years, excluding the pandemic years of 2020 and 2021.
Carrier equipment posts varied throughout the month, reaching their lowest since 2017 but generally remained stable. This inconsistency in equipment availability contributed to fluctuations in the dry van load-to-truck ratio (LTR), which saw peaks and declines but remained notably high compared to historical data from the last seven years.
Overall, the dry van sector experienced a dynamic month, with load volumes and equipment availability responding sharply to retail-driven demand and then normalizing. This pattern underscores the continuing impact of seasonal retail activities on freight movement.
(For July 2024)
$2.06
Dry Van Spot Rates
-1.90% (YOY)
$2.47
Flatbed Spot Rates
-2.75% (YOY)
4.18
Dry Van Load-To-Truck Ratio
+14.83 (YOY)
11.89
Flatbed Load-To-Truck Ratio
+25.95% (YOY)
Industrial CO2 Emissions
(For April 2024)
103M
Metric Tons of CO2 Emitted
-2.83% (YOY)
This is a monthly indicator displaying the amount of CO2 emissions in the industrial sector in Million of metric tons.
7M
Coal
0.0% (YOY)
45M
Chemical
-2.1% (YOY)
27M
Petroleum
-3.5% (YOY)
25M
Pharma & Biotech
-3.84% (YOY)
Monthly 2022 vs 2023 vs 2024:
Industrial Energy Consumption
(For April 2024)
2,445T
BTU’s of Energy Consumed
-2.0% Tbtu (YOY)
This is a monthly indicator displaying the amount of Energy consumed in the Industrial sector in Trillions of btu (british thermal units)
1,623T
Fossil fuels
-2.7% Tbtu (YOY)
182T
Renewable Energy
+1.6% Tbtu (YOY)
277T
Electricity
-0.7% Tbtu (YOY)
363T
Electrical System Losses
-1.35% Tbtu (YOY)
672T
Petroleum
-3.8% Tbtu (YOY)
Monthly 2022 vs 2023 vs 2024:
Gas & Electricity Costs
(For April 2024)
$3.35
Natural Gas Prices (Dollars per thousand cubic feet)
-17.89% (YOY)
$7.82
Avg prices of electricity (Cents per Kilowatthour, Including taxes)
+4.26% (YOY)
The highlights from the “Manufacturing Alliance 2024 Digital Transformation Report” include:
This report highlights the varying degrees of digital transformation across the manufacturing sector, illustrating both the strides made and the significant challenges that remain, particularly in terms of strategic alignment and talent management.
Sources:
© 2024 The Industrial Service Group