After August's shocking plunge in Industrial Production – assumed away as storm-related -September and now October rebounded notably MoM (+0.9% vs +0.5% exp)…
as Manufacturing resurged 1.3% MoM – the most since 2010.
However, excluding the effects of the hurricanes, the index for total output advanced about 0.3 percent in October, and the index for manufacturing advanced about 0.2 percent.
In other words, the hurricanes contributed 6% of the rebound in IP… so we're gonna need moar hurricanes!
And of course, the US equity market is well aware of this trend in Industrial Production…
Industrial Production remains 0.5% below 2014's peak, but the Industrial Average is up 31% since then.
via http://ift.tt/2AT7zjL Tyler Durden