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Industrial production in the U.S. rose in April more than expected and by the fastest rate in more than three years, according to a new report issued Tuesday. Meanwhile, separate reports show e-commerce continues to boom but the building of new homes fell for the second straight month.
The total output at the nation's factories, mines and utilities increased 1% from the month before, marking the biggest gain since February 2014, according to the Federal Reserve, and far better than a 0.4% gain expected from a consensus estimate by analysts.
Pushing the overall figure higher was a 1% increase in factory production after falling 0.4% in March and a 1.2% improvement in the output from mines, following a drop of 0.4% the month before. Utility output moderated to a 0.7% increase after leaping 8.2% in March.
At 105.1% of its 2012 average, total industrial production in April was 2.2% above its year-earlier level.
Capacity utilization for the industrial sector increased 0.6 of a percentage point in April to 76.7%, but was 3.2 percentage points below its 1972–2016 average.
Wells Fargo Securities noted that April is the first time in recent memory that all three major industry groups were higher with manufacturing, mining and utilities all posting gains of at least 0.7% on the month.
“One lesson from the ups and downs of the manufacturing recovery in this cycle is to curb your enthusiasm when the data finally indicate firming in activity,” cautioned Tim Quinlan, senior economist at Well Fargo Securities. “The latest print of the Institute for Supply Management manufacturing survey showed a big dip in the orders component [during April].”
E-Commerce up Nearly 15% from Year EarlierMeantime, a separate report, also released Tuesday, showed first quarter e-commerce retail sales in the U.S. grew 4.1% from the final quarter of 2016 while increasing faster than ...Read the rest of this story
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Presenting the donated engine from Berger Dealer Group are service managers Joe Kook ( second from left) and Mike Peters (second from right). Photo courtesy of Baker Collge
'>Baker College's Auto/Diesel Institute (ADI) of Michigan has been given a $51,558 PACCAR MX-13 diesel truck engine, a donation from Berger Dealer Group, of Dearborn, Mich., to enable engine-specific technician training. Berger also donated the specialized tools, software and related manuals to service the engine.
PACCAR engines are designed for optimized performance, weight savings and durability in Kenworth, Peterbilt and DAF trucks. The 12.9L PACCAR MX-13 is PACCAR's largest heavy-duty diesel engine.
The donation is one of the largest in the history of the ADI, which opened in 2007.
“Because there is a tremendous need for skilled diesel service technicians, businesses are looking to educators to help develop a pipeline of talent,” said Aaron J. Maike, Baker College of Owosso president. “We are honored by Berger Dealer Group's confidence in ADI programming as demonstrated by this incredibly generous donation. Providing this state-of-the-art diesel engine as a teaching tool strengthens a program that is already one of the most recognized in the region, attracting students beyond Michigan's borders.”
The reaccreditation process of Baker College's diesel service technology program in March 2017 influenced the donation. Berger Dealer Group COO and CFO Mike McNutt volunteered to help provide the independent evaluation required for reaccreditation by the National Automotive Technicians Education Foundation (NATEF).
“I saw first hand the ADI's impressive program curriculum, instructors, facilities, and equipment,” Berger said. “This donation allows us to quickly get this engine in front of students who can learn from it, gain additional skills that will be valuable to future employers, and provide quality service for the Kenworth trucks we sell.”
Berger Dealer Group is a Kenworth heavy truck dealership with locations in Dearborn, Clinton Township, Saginaw, and ...Read the rest of this story
