Industrial Production Misses For 4th Month In A Row

Industrial production was unchanged in July, missing expectation of a modest 0.3% rise (making this the 4th miss in a row). Under the surface things are not much better as Consumer goods and non-industrial supplies production both fell their most in 3 months (with only Materials production rising).

Capacity Utlization also missed expectations (77.6% vs 77.9% exp.) and has seen the biggest 4 month slide since October 2012 as manufacturing production fell 0.1% on the month (the first drop in 3 months).

So how's that H2 recovery shaping up?