The US Industrial economy advanced slightly last week (if pipeline scheduling is correct), while consumer spending paused.The Production Index (In terms of its 28-day moving average of gas-flow scheduling into US industrial facilities) rose slightly to 121.6 (vs last weeks record 121.4). In its dailies (See the "Part 7" posts on the Investor Village site) the index started the week firm then softened Tuesday through to the weeks end. Mondays raw gas-flow tracking picked up 2.077 Billion Cubic Feet scheduled for delivery to US factories, another record for the tracking model.
The Consumption Index was revised higher for the past several weeks on pipeline-reported revisions. For the latest week, the measure slipped to 145.0 (from last weeks 145.8), though it did set a record on early-week strength. In its dailies the measure began the week a tad soft, softened sharply Monday, then recovered late-week.
The Inventories measure (the cumulative weekly difference between the Production Index and the Consumption Index) continued in its long-term decline.
Overall, the recovery appears strongly supported by buoyant consumer-spending, an uncharacteristically-large lead in the Consumption Index over the Production Index, firmness in industrial gas-flow scheduling, and continuing declines in the Inventories measure.
-Robry825
Daily Tracking (Natural Gas Scheduled Deliveries)
=====================================
...............................Industrial..................Paperboard
Gas Day...............(Production)..............(Consumption)
-------------..............-------------------...........----------------------
01/28/11...............2.074r.(BCF)...........42.63r.(MMCF)
01/29/11...............2.065r.....................39.36r
01/30/11...............2.067......................39.77
01/31/11...............2.077......................29.45
02/01/11...............1.993......................31.69
02/02/11...............1.963......................30.97
02/03/11...............1.963......................35.53
02/04/11...............1.992......................40.18
02/05/11...............1.995i.....................42.23i
