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Tumbling October Industrial Production And Capacity Utilization Blamed Solely On Hurricane Sandy

Tyler Durden's picture





 

Because not one Wall Street analyst could have possibly factored in the impact of Sandy into their expectations of the month's Industrial Production, which in October declined by -0.4% to 96.6 from 97.0 in the Fed's index, well below consensus expectations of a 0.2% rise, and down from last month's 0.4% increase, it is only logical to blame it all on Sandy. Sure enough, this is what the Fed just did: "Hurricane Sandy, which held down production in the Northeast region at the end of October, is estimated to have reduced the rate of change in total output by nearly 1 percentage point." So let's get this straight: Sandy - which hit on October 29, or with about 94% of the month of October done and impacted New York and New Jersey, not the entire US, is responsible for 250% of the entire October 0.4% drop?  Can we please get back to the "It's all Bush's fault" excuses already. At least those were idiotic and funny. Blaming everything on Sandy is just the former. And yes, capacity utilization for the entire USA which came at 77.8%, the lowest since November 2011, and well below expectations of 78.3%, was obviously crushed by a tropical storm that impacted New York and New Jersey for 3 days in the month. Brilliant.

Industrial Production:

Capacity Utilization:

 

and Manufacturing Industry Output equals the biggest drop since May 2009...

 


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Fri, 11/16/2012 - 10:30 | Link to Comment Earl of Chiswick
Earl of Chiswick's picture
Brown U. President: Debt Not Inherently a Bad Thing

and if you have to ask why America is totally FCKED just watch this piece of work

 

http://www.bloomberg.com/video/paxson-student-debt-not-inherently-a-bad-...

Fri, 11/16/2012 - 10:34 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Debt rocks....as long as you're getting paid by those going into debt.

Fri, 11/16/2012 - 12:15 | Link to Comment Thomas
Thomas's picture

She is correct that student debt is OK if it is self-extinguishing, which it likely is for most Brown students. She is completely full of shit about the crisis being the need for more students needing to go to college. There are schools way below Brown in both skill and dedication of the students and quality of the education that make this statement completely nuts.

Fri, 11/16/2012 - 12:24 | Link to Comment Offthebeach
Offthebeach's picture

Here at Nunzio, Knuckles and Bernanke Student Debt Collection, we too feel debts are a good ting for employment and business and whatnot.
.
Very good

( Sotto voice ) " Hey, wanna do some coeds? I gots two upstairs, work'n it off and can they work it! I gots others, anything youse want. Ivy league, A&M, boys ..."

Fri, 11/16/2012 - 10:30 | Link to Comment MoreNails
MoreNails's picture

Someone ought to offer all these economists a TV so that they are aware the next time a hurricane hits... and forecast / guesstimate accordingly.

Fri, 11/16/2012 - 10:35 | Link to Comment Cursive
Cursive's picture

We've always been at war with Oceania.

USSA!

Fri, 11/16/2012 - 10:35 | Link to Comment otto skorzeny
otto skorzeny's picture

why can't obummer make a "tax the wealthy speech" once a day for 30 days and shave about 4000 points off of the Dow?

Fri, 11/16/2012 - 10:35 | Link to Comment KidHorn
KidHorn's picture

It's all those factories in Statin Island and Atlantic City.

Fri, 11/16/2012 - 10:51 | Link to Comment LongSoupLine
LongSoupLine's picture

Meth factories?

Fri, 11/16/2012 - 10:53 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

You are more right in this than ironic.  The NE has a crippling mafia problem in the ranks of its labor.  Call it a federally-backed economy-busting thug army.  The nation is conscripting mercenary units.

Fri, 11/16/2012 - 10:39 | Link to Comment disabledvet
disabledvet's picture

For once in your life folks you will hear disabledvet say "believe the lie." the alternative to "it's not Sandy's fault" is really, really, really bad.

Fri, 11/16/2012 - 10:41 | Link to Comment Dr. Engali
Dr. Engali's picture

What's tha capacity utilization for the Bernank's printing press? He may have to order a few more since his digital transmission mechanism isn't working.....bullish for job creation.

Fri, 11/16/2012 - 10:41 | Link to Comment Oldwood
Oldwood's picture

When things get really bad, you have to lie! Thank God we have such a lovingand considerate government. They just want us to die peacefully. Kind of like cooking lobster in booze to soften the blow.

Fri, 11/16/2012 - 10:42 | Link to Comment tok1
tok1's picture

snickers and Pauly D had to shut the t shirt shop for a week,, 

Fri, 11/16/2012 - 10:42 | Link to Comment Number 156
Number 156's picture

A friend of mine had his work hours reduced to 20 hours a week. Why? Because his employer cannot afford to run his business anymore in Southern California. Obama is going to have his 'Great Leap Forward' soon enough.

Fri, 11/16/2012 - 10:47 | Link to Comment Oldwood
Oldwood's picture

My twisted goal is to have the nicest equipment auction in town. I have been paying my guys to clean and pollish our machinery in their slow times. Now i'm finally down to sending these guys home for lack of work. It shouldn't be long now.

Fri, 11/16/2012 - 11:15 | Link to Comment RobD
RobD's picture

Oldwood,

Just curious, what do you not make anymore on that machinery?

Fri, 11/16/2012 - 10:49 | Link to Comment drchris
drchris's picture

Sandy and Bush are really going to screw up the next four years.

Fri, 11/16/2012 - 10:57 | Link to Comment hero HNL
hero HNL's picture

Got no idea how these guys do the math......never trust the pundits.

 

 

hero

Fri, 11/16/2012 - 10:58 | Link to Comment ghostzapper
ghostzapper's picture

I still just love those arrows and lines you add Tyler.  Yeah it's so simple but the sheep need that to see through the haze induced by their intoxication from the financial news media kool-aidathons and incessant cheerleading. 

Fri, 11/16/2012 - 11:11 | Link to Comment TideFighter
TideFighter's picture

That was some down velocity we just saw. In "normal times", that wouldv'e been 400-500 points, easy.

Fri, 11/16/2012 - 11:12 | Link to Comment SKY85hawk
SKY85hawk's picture

Thank you for being the Voice-of-Reason!

Fri, 11/16/2012 - 11:24 | Link to Comment Pairadimes
Pairadimes's picture

I thought we were blaming a video.

Fri, 11/16/2012 - 12:31 | Link to Comment Offthebeach
Offthebeach's picture

Japan supply lines. Millions of EBT nation unable to buy PS.

( Are EBT/SNAP and rear mirror Handicapped signs, production? )

Fri, 11/16/2012 - 11:39 | Link to Comment monopoly
monopoly's picture

Unfortunately, this is what they will report on the evening news....and most will believe it. That is the mentality of this once great nation.

Fri, 11/16/2012 - 12:26 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

Do the 47% care at all about the state of the economy? I think not.

 

 

Fri, 11/16/2012 - 12:24 | Link to Comment De minimus
De minimus's picture

As long as Marxists, (and I include the media here because they could change the outcome of the equation but have chosen to report only self and ideologically serving lies) can take credit for good news and blame any one or anything else for their actions, they have power and are consequently, happier than pigs in shit. Actually, their pedicured little toes never touch the stuff, that's what we are for, human stepping stones.

Fri, 11/16/2012 - 13:55 | Link to Comment sbenard
sbenard's picture

"Mommy, it's ALL Sandy's fault!"

This article, too, was "brilliant"! REALLY!

Fri, 11/16/2012 - 20:21 | Link to Comment rjs
rjs's picture

if anything was gonna be hit by Sandy, it was the utilities...but utility output fell 0.1% after having been unchanged in september...hardly convincing..

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