AI Data Insight
The US Non-Industrial Supplies Production Index (seasonally adjusted) rose to 99.8 in April 2026, growing by approximately 0.4% from the previous value of 99.4. Accompanied by a 0.7% month-over-month increase in overall US industrial production in April, which significantly beat the market consensus of 0.3%, this indicates that intermediate goods demand on the non-industrial side is expanding in tandem, driven by the AI infrastructure boom and durable goods orders. Despite geopolitical conflicts driving up raw material costs, short-term corporate restocking momentum remains robust.