US Industrial Production Growth Disappoints In August

After a surprisingly jump in July – following a surprising slump in June – analysts expected US industrial production to grow at a slower pace in August and it did. Headline industrial production rose 0.4% MoM in August, below the expected 0.5% rise and well below the 0.9% jump in July. This slowed the YoY rise in IP to below 6%…

Source: Bloomberg

Manufacturing production slowed even further, rising just 0.2% MoM; well below the expected 0.4% gain and the 1.6% jump in July…

Source: Bloomberg

US Industrial Production is back to pre-COVID levels here, while stocks are well above those levels…

Source: Bloomberg

All those stimmies… and we are back to breakeven on the US manufacturing sector… and The Fed is about to start tapering?