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Industrial Production For Oil And Gas Well Drilling Drops To Lowest This Century

Submitted by Tyler Durden on 10/16/2015 09:26 -0400

Industrial Production growth in The US has now slwoed for 10 straight months, rising just 0.4% YoY in September - the weakest growth since Dec 2009 - signaling the path to recession is clear. Manufacturing production YoY slowed to just 1.4% - the slowest since Feb 2014. For the 8th month of the last 9 IP fell MoM with a 0.2% drop in September as a modest revsion higher in autos was offset by a plunge in Oil and Gas Drilling to the lowest this century (down 4% after rising 1.7% last month).

Recession Looms...

As it appears Auto Assemblies are starting to roll over (which makes sense in light of the record high inventories)...

But the biggest driver was a collapse in Oil & Gas Drilling...

Charts: Bloomberg

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Fri, 10/16/2015 - 09:28 | 6674755 Blythes Master

Change you can believe in.

Thanks Odildo.

Fri, 10/16/2015 - 09:32 | 6674781 Hype Alert

The stock market is cheering for a recession. Pretty warped. Thanks FED.

Fri, 10/16/2015 - 09:33 | 6674756 Viffer

Yah! Dow up 200 today! Its a lock.

Edit:

Screw Gartman .. my yesterday prediction

http://www.zerohedge.com/news/2015-10-15/rents-are-soaring-bls-admits-core-cpi-comes-hottest-over-year#comment-6670542

Dow was up +200

Already today .. up +72.

Negative is the new positive.

Fri, 10/16/2015 - 09:29 | 6674762 junction

Welcome to the de-industrialized United States. Thank you, Reagan, Bushs, Clinton and Obama.

Fri, 10/16/2015 - 09:47 | 6674825 Chief Kessler

Good Morning Ladies of Zero Head,

Once again laying the blame on everyone else? This is what happens when you get lazy and don't go to your town meetings. Everybody and their brother votes themselves a pay raise, taxes skyrocket and industry skeedattles.

But you can blame whoever you like for your laziness. Lets watch some mo' Nascar butt pushin honey!

Fri, 10/16/2015 - 09:57 | 6674866 Sages wife

Back to ET for you. Musta got hacked.

Fri, 10/16/2015 - 10:45 | 6675056 venturen

Thank you Secretary Rubin, Paulson, Geithner, Blankfien, Dimon, Corzine...etc

Fri, 10/16/2015 - 09:29 | 6674763 FreeShitter

Should be good for another 100+ day.

Fri, 10/16/2015 - 09:32 | 6674780 Philo Beddoe

2250 by 2016. Shemitha my ass!! Wipe away debts? Fuck that shit.

Fri, 10/16/2015 - 10:06 | 6674889 hawaiianPunch

Take a look at ZH's "Short Squeeze, Liquidity, Margin Debt & Deflation" article. The mystery of the Shemitah did not fail to occur... it was masked by the Fed... they chose to deny the truth from the public, because they hate the truth.

"whatever is imploding behind the scenes is far worse than what occurred in 2008. What’s even more interesting is that the spike-up in reverse repos occurred at the same time – September 16"

Fri, 10/16/2015 - 09:30 | 6674771 ajkreider