INDUSTRIAL UPDATE

*Data Compiled from the most UTD Industry Reports of 2023 and 2024

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Industrial Insights

Industrial Projects

North American Industrial Project Spend

(For August 2023)

North American Project Spend
$ 0 B

This is a monthly indicator displaying the amount of industrial project spend in north America.

+$96.76B (YOY)

+16.96% (YOY)

Monthly 2022 vs 2023:

Top 5 Spend by Industry:

Industrial Man. Spend
$ 0 B

+$5.84M (YOY)

+2.82% (YOY)

Power Spend
$ 0 B

+$22.64M (YOY)

+19.42% (YOY)

Onshore Oil & Gas
$ 0 B

+$27.23M (YOY)

+41.17% (YOY)

Metals & Minerals
$ 0 B

+3.37M (YOY)

+7.38% (YOY)

Pharma & Biotech
$ 0 B

+11.01M (YOY)

+26.42% (YOY)

North American Industrial Project Fallout

(For August 2023)

North American Project Fallout
($ 0 M)

This is a monthly indicator displaying the amount of industrial projects that were cancelled, placed on hold, or delayed.

-$50,920M (YOY)

-19.87% (YOY)

Monthly 2022 vs 2023 (running):

Fallout by Industry:

Industrial Manufacturing
$ 0 M

-$50,472.08(M) (YOY)

-297.20% (YOY)

Power Spend
($ 0 M)

+$15,040.72 (M) (YOY)

+12.21% (YOY)

Onshore Oil & Gas
($ 0 M)

+$4,420.09 (M) (YOY)

+5.93% (YOY)

Metals & Minerals
($ 0 M)

– $18,543.05 (M) (YOY)

-119.89% (YOY)

Pharma & Biotech
$ 0 M

-$4,946.69 (M)(YOY)

-35.71% (YOY)

Industrial Production & Capacity Utilization

Industrial Production Index

(For March 2024)

Total Industrial Production Index
0

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.

+.20% (YOY)

Monthly 2022 vs 2023 vs 2024:

Production by Industry:

Manufacturing
0

+0.8% (YOY)

Mining
0

-2.0% (YOY)

Business Equipment
0

+1.7% (YOY)

Materials
0

-0.3% (YOY)

Construction
0

-0.5% (YOY)

Capacity Utilization

(For March 2024)

Total Capacity Utilization Index
0

The percentage measure of how efficiently a country or business is using its potential manufacturing and production capabilities.

-1.26% (YOY)

Monthly 2022 vs 2023 vs 2024:

Capacity by Industry:

Manufacturing
0

+1.4% (YOY)

Mining
0

-0.6%(YOY)

Industrial production rose 0.4 percent in March but declined at an annual rate of 1.8 percent in the first quarter. Manufacturing output increased 0.5 percent in March, boosted in part by a gain of 3.1 percent in motor vehicles and parts; factory output excluding motor vehicles and parts moved up 0.3 percent. The index for mining fell 1.4 percent, and the index for utilities gained 2 percent. At 102.7 percent of its 2017 average, total industrial production in March was unchanged compared with its year-earlier level. Capacity utilization moved up to 78.4 percent in March, a rate that is 1.2 percentage points below its long-run (1972–2023) average.

Industrial Labor

Manufacturing Sector Unemployment Rates

(For March 2024)

Manufacturing Unemployment Rate
0 %

Indicates the percentage of individuals in machinery manufacturing who are 16 years or older and are nonagricultural private wage & salary workers without a job.

+3.44% (YOY)

Monthly 2022 vs 2023 vs 2024:

Unemployment By Manufacturing Subsector:

Machinery
0 %

-18.75% (YOY)

Chemical
0 %

-19.23% (YOY)

Petroleum & Coal
0 %

+39.58% (YOY)

Electrical Equipment
0 %

+71.73% (YOY)

Computer & Electronic
0 %

-23.07% (YOY)

In March, the U.S. Bureau of Labor Statistics (BLS) reported a 3.0% unemployment rate for the Engineering and Manufacturing industry, a small decrease from the beginning of the year. Despite a stagnant month for the sector, this rate is below the average for all occupations. The BLS Jobs Report highlighted growth for manufacturing workers, particularly in Texas and Midwest states like Ohio, Missouri, and Indiana. Texas, in particular, has seen a strong start to 2024, reflecting a positive outlook for the industry.

Manufacturing Sector Producer Price Index

(For March 2024)

Manufacturing Producer Price Index
0

The producer price index quantifies the percentage fluctuation in prices that domestic producers receive for goods and services.

+0.4% (YOY)

Monthly 2022 vs 2023 vs 2024:

PPI By Manufacturing Subsector:

Machinery
0

+3.37% (YOY)

Chemical
0

-3.45% (YOY)

Petroleum & Coal
0

-4.97% (YOY)

Electrical Equipment
0

+2.03% (YOY)

Computer & Electronic
0

+2.80% (YOY)

Shipping

(For March 2024)

Dry Van Spot Rates
$ 0

-7.79% (YOY)

As of March ’24

Flatbed Spot Rates
$ 0

-8.08% (YOY)

As of March ’24

Dry Van Load-To-Truck Ratio
0

+15.92% (YOY)

As of March ’24

Flatbed Load-To-Truck Ratio
0

-3.52% (YOY)

As of March ’24

Dry van linehaul rates were mostly flat in March as the volume of loads moved continued to increase, up 7% compared to February. At $1.58/mile, dry van linehaul rates were $0.14/mile lower than last year. The Flatbed Spot rates were up $0.02 in March compared to April. The Dry Van Load-to-Truck ratio was at 3.13 in March, which is up from 2.82 in February, and up from 2.7 compared to March of 2023. The Flatbed Load-to-Truck ratio was sitting at 18.35 in March, up from 13.64 last month, but down from 19.02 compared to March of last year.

Environmental / Sustainability

(For December 2023)

Industrial CO2 Emissions

This is a monthly indicator displaying the amount of CO2 emissions in the industrial sector in Million of metric tons.

Metrics Tons of CO2 Emitted
0 M

-.8% (YOY)

Monthly 2022 vs 2023:

Metric Tons of CO2 By Energy Type:

Coal
0 M

-12.5%(YOY)

Natural Gas
0 M

+4.0% (YOY)

Petroleum
0 M

+0.0% (YOY)

Pharma & Biotech
0 M

-9.0% (YOY)

Industrial Energy Consumption

(For December 2023)

This is a monthly indicator displaying the amount of Energy consumed in the Industrial sector in Trillions of btu (british thermal units)

BTU's of Energy Consumed
0 T

+3.8%Tbtu (YOY)

Monthly 2022 vs 2023:

BTU’s of Energy Consumed by type:

Fossil Fuels
0 T

+6.4%Tbtu (YOY)

Renewable Energy
0 T

+1.5%Tbtu (YOY)

Electricity
0 T

+0.7%Tbtu (YOY)

Electrical System Energy Losses
0 T

-2.7%Tbtu (YOY)

Gas & Electricity Costs

(For December 2023)

Natural Gas Prices (Dollars per thousand cubic feet)
$ 0

-$43.03%(YoY)

Average Prices of Electricity (Cents per Kilowatthour, Including Taxes)
$ 0

-$9.88%(YoY)

Here is the monthly energy review from the U.S. Energy Information Administration for March 2024: 

  1. Fossil Fuels: The energy consumption from fossil fuels, which includes coal, natural gas, and petroleum, totaled approximately 6.726 quadrillion BTUs .
  2. Renewable Energy: Renewable energy consumption amounted to around 0.835 quadrillion BTUs. This includes sources like wind, solar, hydroelectric, and other renewable energy forms .
  3. Electricity: Total electricity consumption was about 3.175 quadrillion BTUs. This covers all electricity used across different sectors and sourced from various energy types .
  4. Petroleum: The consumption of petroleum products was approximately 1.973 quadrillion BTUs. This encompasses all petroleum-derived products used across various sectors .
  5. Natural Gas: Natural gas usage stood at about 2.486 quadrillion BTUs, utilized in residential, commercial, industrial, and electricity generation sectors .
  6. Crude Oil: Crude oil consumption specifically totaled around 1.232 quadrillion BTUs. This focuses on the usage of crude oil excluding other petroleum products .
  7. Coal: Coal was consumed at a level of approximately 0.618 quadrillion BTUs, indicating its usage mainly in the power generation and industrial sectors .

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Sources:

  • Unemployment Rate: https://data.bls.gov/timeseries/LNU04032232?amp%253bdata_tool=XGtable&output_view=data&include_graphs=true
    • Petroleum & Coal: https://www.bls.gov/iag/tgs/iag324.htm
    • Chemical: https://www.bls.gov/iag/tgs/iag325.htm
    • Computer & Electronics: https://www.bls.gov/iag/tgs/iag334.htm
    • Electrical Equipment: https://www.bls.gov/iag/tgs/iag335.htm
    • Machinery: https://www.bls.gov/iag/tgs/iag333.htm
  • Industrial CO2 Emissions: https://www.eia.gov/totalenergy/data/monthly/pdf/sec11_7.pdf
  • Industrial Energy Consumption: https://www.eia.gov/totalenergy/data/monthly/pdf/sec2_11.pdf
  • Natural Gas Price: https://www.eia.gov/totalenergy/data/monthly/pdf/sec9_15.pdf
  • Electricity Price: https://www.eia.gov/totalenergy/data/monthly/pdf/sec9_11.pdf
  • Dry Van Spot Rates: https://www.dat.com/trendlines/van/national-rates
  • Flatbed Spot Rates: https://www.dat.com/trendlines/flatbed/national-rates
  • Dry Van Load to Truck: https://www.dat.com/trendlines/van/demand-and-capacity
  • Flatbed Load to Truck:  https://www.dat.com/trendlines/flatbed/demand-and-capacity
  • Project Fallout: https://www.industrialinfo.com/dash/gapMenu.jsp
  • Project Spending: https://www.industrialinfo.com/dash/industryMenu.jsp
  • Industrial Production and Capacity Utilization: https://www.federalreserve.gov/releases/g17/current/default.htm