Loading ...Industrial Production Drops, Misses By Most Since January
Tyler Durden’s pictureSubmitted by Tyler Durden on 07/16/2014 09:24 -0400
For the 3rd month in a row, Industrial Production missed expectations as hopes and dreams of follow through in Q2 remain dashed on the shores of hard data. IP rose 0.2% (missing the 0.3% expectation) and May’s jump was downwardly revised to 0.5%. What is stunning is that Industrial Production has slowed its gains from the polar-vortex Q1 into a much more economically frigid Q2. Capacity Utilization also missed expectations. Perhaps most worrying is the manufacturing industry’s mere 0.1% gain in June – the slowest increase since January.