US Industrial Production Rebounds From Biggest Drop In Over 2 Years

Following May’s surprising contraction (which was revised dramatically lower to -0.5%), June saw US Industrial Production surge 0.6% MoM.

May’s MoM shift in IP was revised from 0.1% drop to 0.5% drop (the biggest drop since March 2016) but June still managed to beat expectations (+0.5%)…

 

Automobile production jumped 7.8 percent in June from a month earlier when it plunged 8.6 percent after a major fire at a parts supplier. Excluding motor vehicles, manufacturing production advanced 0.3 percent after a 0.4 percent drop in May.

One surprise was a decline in utility output even as temperatures climbed across the U.S. Last month was the third- warmest June on record, according to the National Oceanic and Atmospheric Administration’s website.

And finally, for good measure, there is this…

It’s still different this time.

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Author: Tyler Durden

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