Addendum: Capacity Utilization and Fed Surveys

Two updates from my just-published post:
First, I mentioned capacity utilization, here’s the data (see graphs below). I’m simply noting the data are mixed, and this hard data point does not (yet) reflect the enthusiasm I’m seeing in the Fed surveys (which capture business sentiment).
Second, in terms of the Fed Survey, The Philadelphia Fed survey was published this morning. The same glowingly positive sentiment is present as in other regions, perhaps even more so. The level just reported is at the highest since January 1984 (33 years ago).  Per the last post, Fed surveys poll companies and ask how they perceive business operations. The answers are consistent: business is great. I’m watching for similar upticks in hard data (capacity utilization, sales numbers, employment, etc.).

 

Capacity Utilization – Since 2000

Capacity Utilization – Since 2011

Philadelphia Fed 2-Year ChartPhiladelphia Fed – Since 2000

 

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