US Industrial Production Unexpectedly Plunges In September

Despite hope-filled ‘soft’ survey data suggesting US manufacturing’s rebound, the ‘hard’ data shows anything but.

September saw a 1.3% MoM plunge in US Industrial Production (dramatically worse than the 0.1% MoM increase expected) and making matters worse, August was revised down from a 0.4% MoM rise to a 0.1% MoM drop…

Source: Bloomberg

US Manufacturing output tumbled 0.7% MoM (also worse than the +0.1% MoM expected)…

Source: Bloomberg

This is the sixth straight month of basically flatline US manufacturing production.