Another 'Hard' Data Disappointment: US Industrial Production Misses, Stagnant In February

Tyler Durden's picture

After a brief jump in December, US industrial production was unchanged in February (thanks to tumble in utilities which offset modest manufacturing gains). Industrial Production peaked in the US in Nov 2014, as the US equity market took off after the end of QE3.

February saw Industrial production unchanged against expectations of a 0.2% MoM rise (and January was revised modestly higher).

But then again, when has real economic data mattered?

 

Manufacturing was in line at +0.5%, but utilities tumbled for the 2nd month in a row (down 5.7%) and Mining output rose 2.2%.

Most of the major non-energy market groups recorded increases in February. For a second consecutive month, however, a drop in the output of utilities contributed substantially to losses in the overall indexes for consumer goods, business supplies, and materials through their energy components. 

The production of consumer goods moved down 0.4 percent overall, reflecting a drop in consumer energy products. The index for consumer durables was unchanged, as a loss of 3.6 percent in appliances, furniture, and carpeting was outweighed by increases in other groups. The production of consumer non-energy nondurables rose 0.3 percent because of improvements in foods and tobacco and in clothing. The output of business equipment moved up 0.7 percent, with both information processing equipment and industrial and other equipment recording increases.

The output of construction supplies jumped 1.3 percent; the index has advanced more than 4 percent over the past six months. The indexes for non-energy business supplies and non-energy materials each rose more than 1/2 percent. Within materials, both durable and nondurable materials posted gains.

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Truther's picture

pffft... nothing to see here. move along now. Nothing new.

GUS100CORRINA's picture

'Hard' Data Disappointment: US Industrial Production Misses, Stagnant In February = 'STAGFLATION'

Now we know why the FED is raising rates ... they are trapped in their own POLITICAL nightmare of ZIRP and money creation!

This is the FRUIT of 8 years of OBAMA and KEYNESIAN economics.

President TRUMP is going to need a lot more deals ASAP to make up for all the ROTTEN FRUIT of the previous administration.

Hammer823's picture

Data hasen't mattered since 2009.

An ever increasing stock market is REQUIRED, no matter what the data says.

That's why bad has been "good" since 2009.

https://www.instagram.com/the_rigged_street_journal/

abyssinian's picture

More bullish news.......futures are popping

BigFatUglyBubble's picture

Who needs production when we can just inhale Trump's farts all day for sustenance?

TrustbutVerify's picture

Imagine the benefit of Americans buying American goods...not phony American brands that import their goods from outside the country. U.S. citizens fret about the job situation and unemployment, generally, but they do next to nothing to help themselves and their fellow citizens. Its no wonder the U.S. is in trouble.

Long term "great stock," WalMart" is little more than an import house as are so many other retailers - a major outflowing river sending money to other countries. But then so are so many of the luxury goods companies - car companies alone BMW and Mercedes.
Extrapolate.

rpboxster's picture

Growing up near Detroit, I always had a hard time reconciling the 'buy American' sentiment, when every time the UAW members got fat profit sharing checks, they bought Sony, Samsung, Honda atvs, Yamaha wave runners and everything but other American goods.  It's confusing nowadays, though.  A Honda Accord built in OH is more American, than most GM or Ford cars made in MX or CAN.

World-Gone-Mad's picture

Because we don't need industrial production. We have all the waiters, bartenders, and Walmart greeters! So there!

FreeShitter's picture

We all just need to hold hands in our safe spaces and buy SNAP.

Dr. Engali's picture

Data..., pffft..., who needs data when we have a printer?

Bam_Man's picture

The Fed will continue to raise interest rates, right into the upcoming recession.

Just like they ALWAYS do.

GRDguy's picture

OMG, you mean THEY lied again? 

THEY have to lie, in order to steal.

MuffDiver69's picture

Sort of surprised we have any industry left after the last sixteen plus years...Probably time for some new models...Until things radically change it's rather difficult to produce and such when you don't have any ability to actually do this...Is that a hard concept to figure out...

Grandad Grumps's picture

Janet needs a spanking.