Report Detail Summary

The Industrial Production Outlook

April 18, 2021

Industrial production is still below pre-pandemic levels. The data show steady but decelerating industrial production growth through the end of 2021, which is consistent with a sustained economic recovery for the rest of the year. Capacity Utilization for the industrial sector, while increasing, remains 5.2 percentage points below its long-run average, signaling that there is still room to grow. Our forecast estimates capacity utilization reaching its long-run average by mid-2023 if current industrial production growth levels are maintained.

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