Industrial production contracted again in August at a rate (month-over-month) similar to that in June. That would suggest the rebound in July was the aberration since IP has now declined in seven out of the eight months this year. The year-over-year growth rate of just 0.9% would have been the worst of the “recovery” except that downward revisions forced June’s [...]
Another contraction in US Industrial Production has extended the slump to half a year. That includes, perhaps more importantly, serious and continued erosion in capacity utilization. There were some minor upward revisions in prior months though nothing to a significant degree, leaving May IP up only 1.37% year-over-year. That is the slowest pace of the entire “recovery” period, and a [...]
The economic data has taken on a more positive tone recently, at least in some areas, and with an FOMC meeting and Janet Yellen press conference on the schedule this week, the bulls pulled in their horns last week. It seems that, for now anyway, good news is bad news for markets as any indication that the US economy is [...]
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