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US Industrial Production Weakens For 5th Month - Longest Streak Since Great Recession
On the heels of the weakest print since May 2009 in March, April Industrial Production printed -0.3% (against expectations of a bounce to -0.03% from -0.64% - which was revised higher). This is the 5th monthly drop in a row - the longest streak since the Great Recession. This is the 2nd weakest YoY print, at a mere +1.93%, since Feb 2010. To add to the pain, Capacity Utlization missed expectations falling to its lowest since Jan 2014 (falling the most YoY since Dec 2009) and Manufacturing production was unchanged.
Worst streak of monthly drops since 2009...
2nd weakest YoY print since Feb 2010...
And Capacity Utilization plunged to its lowest since Jan 2014... with the biggest YoY decline since Dec 2009
Manufacturing output was unchanged in April, as a small increase in the production of durables was offset by a small decrease in the output of nondurables. Among durable goods industries, gains of more than 1 percent were posted by wood products; nonmetallic mineral products; electrical equipment, appliances, and components; and motor vehicles and parts. Machinery production fell 0.9 percent for the largest decrease within durables. The changes in output among nondurable goods industries were relatively smaller: Production by the food, beverage, and tobacco product industry contracted 0.6 percent for the largest decrease, while the biggest gain was registered by the index for printing and support activity, which increased 0.4 percent. The production of other manufacturing industries (publishing and logging) fell 0.4 percent.
Charts: Bloomberg
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Industry thrives on 29.5 hr/wk jobs.
That, and wickedly overpriced heathcare.
Well, there's goes the productivity numbers, too. They've been on a slow burn for months now, not that anyone has noticed.
I think it's time for corporations to do another round of "trimming the fat" so they can finance more share buy-backs.
I find it interesting the MSM lack of interest in the background of AMTRAK engineer Brandon Bostian.
For some reason I feel if Mr Bostiam had been photographed at a Tea Party Rally holding a flag, rather than a gay rights march holding a cardboard sign saying “Hugs for free” there would be much more interest.
Then again I am very cynical.
They aren't going to go near him with the proverbial ten-foot pole because of his propensity to want to play with other men's tallywhackers. Homosexuals are bullet-proof these days. Except Rosie, (NOBODY likes that bitch).
~"US Industrial Production Weakens For Longest Streak Since Great Recession"~
"Obama! Obama! Obama!!!!!"
Funny how that cheer has died away...
Why build when inventory is already bloated. This should be expected after Q1 inventory numbers. Throw in weak retail for some more fun.
they should write a book about those 29.5 HR a week jobs and this time period...
Who needs to produce when people will trade things of value for worthless paper?
Since it is the belief of those in power that all we need are lawyers, insurance companies, the stock market and government; the above information is totally irrelevant.
... oh right, we need shopping malls and fast food too.
I guess its time to start up the war machine in earnest. WW3 coming up
What was industrial capacity utilization figure? Anything over 80% means profits are being generated in a growing economy.
Who needs productivity when you have the fed printing trillions and buying stocks.
Looks like QE4 is a sure thing. Anything to boost stocks and push down gold for now.
Stop with all the bad news Tyler. You're going to add 100 pts to the S&P before the day is done.
ive lost count of the ratio of bad-to-good data points the last 1,2, and 3 months. GDP estimates continue to fade. i have just 1 question. stocks have benefited from ZIRP but EVERY "fundamental" analyst, PM i hear wheeled-out on CNBC common denominator is that bull markets don't end on anything BUT recessions. soooo, when we start printing contractions in GDP quarter-over-quarter AND we go negative on real & nominal GDP as the fed keeps rates at zero (and most likely announces they are coming back in the market with QE4), then what becomes the narrative? i know the fed keeps moving the goal posts but what about analysts and PMs? whats they're rational to their clients as to why they are still fully invested in stocks IF we still are at or near all-time highs with GDP contracting & the fed still in the game? the fed will (is currently) being proven wrong in-that they can stimlulate GDP.
oh, and i can't wait for the day that people actually wake-up to the fact that bond fund managers have been missing 1 component in this infinite bull market in bonds which is DEFAULT RISK (yep, and that includes US Treasuries, im still waiting to meet someone who can explain to me how we are gonna pay back this $18 trillion & growing debt - only way i know out of it is 1 of 2 ways: 1. inflate the money supply 2. default)
Come up with a harder question. We will mint 18 one trillion dollor coins with Krugman on them, make them only redeemable for bonds which will be payed back in more Krugman coins.
simplify that question
how long can they pretend there is/will be no recession/depression?
The financial-ization of the service economy will continue until economic condition improve
Seasonally adjusted survey says. Blah blah blah. Instead of having these fake "survey numbers" every month how about going to quarterly unadjusted numbers with a months lag time. They're all revised at a later date anyways so what's the point. The rigged non GAAP, mark to nothing market doesn't seem to care about reality anyways so whats the point. In a "buybacks" world where companies can guide lower and still announce buybacks what does it matter.
In a fraudulent, ponzi of a world, QE is all that really matters and is a for gone conclusion at this point. Just print because nothing else is going to pay for 80 million boomers and their health care, endless wars and the outright theft and fraud that is our corporate government
The great U.S. will NEVER have another recession much less a depression. Ever!! Got that? Got it?! GOOD!
Since when did the Great Recession end? What this a misspelling and the reference was to the Great Depression of the 30's?