Market news

Show news:


15.01.2022 00:29

US Industrial Production: Still a supply problem – Wells Fargo

Industrial Production in the US dropped unexpectedly 0.1% in December. Analysts at Wells Fargo explain the decline took place despite indications that wait times are shortening and other signs of initial improvement with the supply chain problem.

Key Quotes: 

“Total industrial production edged slightly lower in December with a 0.1% decline in the last month of the year. Upward revisions to prior month's data may take some of the sting out of today's unexpected decline, but the main message is that despite some improvement, manufacturing output is being held down by tangled supply lines like the many ropes of the Lilliputions that held down Gulliver.”

“Manufacturing, which comprises more than three quarters of all output, saw a 0.3% decline, with motor vehicle and parts production down 1.3% in the month. Aside from October, when motor vehicle output had a spurt of growth, this category generally has been a persistent headwind to overall manufacturing.”

“A silver lining in the report was a 0.3% gain in production in high-tech industries like computers, communications equipment, semiconductors and electronics. Not only have some of these categories seen the brunt of strapped supply and output perhaps signals some easing in bottlenecks, but they're also indicative of broader business investments that can improve productivity.”

“Overall capacity utilization slipped to 76.5% from a downwardly revised 76.6% in November. But capacity varies widely across industries. Capacity utilization of high-technology industries remains lower than the broader economy-wide measure at 75.9% in December.”


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

January 2022
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00