This page has been archived and commenting is disabled.
Industrial Production Rises Most Since November After Significant Downward Revisions
Thanks to some considerable negative downward revisions, Industrial Production In July rose 0.6% (double expectations of a 0.3% rise) - the biggest MoM rise since November. However, year-over-year IP growth is flat at 1.3% - hovering at its weakest since the last recession. We previously noted the surge in auto inventories-to-sales (Motor Vehicle IP rose 10.6% MoM), which likely spurred this false dawn in IP, however, it is the rise in oil drilling - the first time since September - that raises an eyebrow as entirely unsustainable amid collapsing prices.
Thanks to the revisions, July looks awesome...
Thanks to the panic surge in Auto industrial production...
But YoY growth is flat at its weakest since the recession...
Of course, economists are rapidly extrapolating thisgrowth to support Fed rate hikes... missing the outlier-ness. We await next month's downward revisions.
Charts: Bloomberg
»
- 6018 reads
- Printer-friendly version
- Send to friend
- advertisements -
No consumption but indutrial production up. It is all weapons for the planned war?
Mostly fighter jets and military heli's and shit. I work in manufacturing technology and once oil took a shit, the military Keynesians refilled the GDP bathtub with more G.
make it and the blow it up, hopefully w/out any casualties. breaking windows is too slow.
Industrial "accidents" can break a LOT of windows.
Some war materials, but it is consumers with access to cheap credit out buying SUVs and granite countertops...exactly as planned. The Fed bubbles have been re-inflated and the bankers and oligarchs are elated. Now comes the real test...is infinite debt really possible? There is NO growth, so that lie about how growth will pay off the debts, is over. There is massive overbuilding again of condos, houses, etc, thanks to the Fed. it will all fall apart soon, but they will keep saying how they had no other choices. They wanted inflation, but the housing and equity bubbles are still not enough to satisfy them...they want more, as it benefits the wealthy most. It is all sick and gonna get ugly. Tech has supported the economy for 40 years and that is ending. No new toys on the horizon for the lemmings to use to entertain themselves. Party over.
another data point that is manipulated to serve the interest of HFTs of Wall Street. downward revisions with a beat, rinse repeat. Shyster industry.
MOAR lies, we need MOAR Lies,,Don't these guys ever get sick of printing BS ?!!
no they don't
but if someone shot yellen in the head a few times, that may wake them up
That production in 2010 was to the moon after the government fixed everything. They just need to implement another fix and viola!
is this domestic production or does it include overseas (multinational) production as well?
car production is up - they must have made more space available to park this shit in the corn fields in Nebraska
corn futures are way down, so parking shit that people don't need must be more profitable for the farmers
ahhhh, economic growth - it's a wonderful thing
What will the rise be after the next round of downward revisions?
Just saying that if we knew what production actually was there wouldn't be revisions.
See?
They ESTIMATE what they think production OUGHT TO BE given a basket of indicators...and then when the real data comes out they issue a REVISION.
So how can I call a fake estimate that is no more accurate than the last one, and equally destined to be revised downward, a RISE IN PRODUCTION?????