US Manufacturing Rebounds In November As Auto Production Soars

After notable weakness in October, analysts expected November Industrial Production to rebound healthily (echoing the PMIs) and it did, rising 1.1% MoM (above the 0.9% expected rebound especially positive considering October was revised lower to -0.9% as was September).

The manufacturing sector also rebounded 1.1% MoM – the biggest jump since October 2017 – but on a YoY basis, manufacturing remains in contraction…

Source: Bloomberg

Utilities rose a notable 2.9% in November (after falling 2.4% in October) and auto production surged…

Source: Bloomberg

And finally, the decoupling between the economy and the market continues…

Source: Bloomberg

Thank you Mr.Powell.