Industrial Production Tumbles Most In 10 Months

Tyler Durden's picture

Despite a surge in oil and gas drilling (up 8.5% MoM), US Industrial Production tumbled 0.3% MoM - the biggest MoM drop since March 2016. Worse still, after a hope-filled bounce to a positive year-over-year in December, Industrial Production slumped to unchanged from a year ago in January.

After December's exuberant bounce, January Industrial Production has fallen back to reality...


This occurred despite a huge spike in oil and gas drilling...


And year-over-year, IP is now unchanged... (so only one positive print in the last 17 months - this is the worst non-recessionary streak in US history)

Once again "hard" data post Trump disappoints the exuberance in 'soft' data.

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Bill of Rights's picture

Lemme guess...the weather

BigFatUglyBubble's picture

It's probably nothing...

angry_dad's picture
angry_dad (not verified) Feb 15, 2017 9:23 AM

Annual holiday shutdowns and taking inventory

NEOSERF's picture

Kinda looks from the chart that this happens every year at this time..

small axe's picture

don't give the government statisticians any ideas or they'll slap a "double-seasonal adjustment" on the data like they did with GDP a couple of years ago. All good with a few tweaks to an Excel formula.

asteroids's picture

After 8 years of bullshit, I fully expect reversion to the mean. And I suspect its going to get very very mean out there soon.

Posa's picture

The Fed's IP data generally seems cleaner and less "adjusted" than Commerce Dept and BLS data.

LawsofPhysics's picture

Wait what?  I thought manufacturing was UP?

Stormtrooper's picture

This is not a recession.  It is a structural Depression.

innertrader's picture

I have to know what the BIG pic looks like, so I can get an idea about the small one.

Hammer823's picture

It's easy to avoid a Recession if you simply refuse to acknowledge it.

Stocks can trade at whatever valuation we want.  There is no "wrong" P/E.

And so the rally continues.  On nothing at all, which is fine.

As every pension, 401k, ira, 529 and government budget rely on the stock market going up forever.

MyMetaAnalyses's picture

At this point, it seems ridiculous that anyone (in the general public) would adhere to socialism. Let me tell you why they do...