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US Industrial Production Bounces After Major Downward Revisions

Tyler Durden's Photo
by Tyler Durden
Tuesday, Jun 15, 2021 - 09:24 AM

US Industrial Production rose 0.8% MoM (better than the expected +0.7% MoM), but do not celebrate quite yet as April's 0.7% MoM print was downwardly revised dramatically to just 0.1% MoM...

Source: Bloomberg

Overall industrial production remains 1.5% below pre-COVID-Lockdown levels...

Source: Bloomberg

Manufacturing also rebounded notably in May, up 0.9% MoM, after revised to a 0.1% MoM drop in April

Source: Bloomberg

Most notably however is the improvement in capacity utilization, which rose to 75.2% (still well below the 76.3% pre-lockdown levels)...

Source: Bloomberg

This comes after Empire Fed's survey showed business activity among manufacturers in New York state expanded at a slower pace in June as growth in new orders and shipments eased.

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