US Industrial Production Continues To Lag "V-Shaped" Recovery Hype

After September's disappointing slump, analysts expected US industrial production to rebound modestly in October and it did, rising 1.1% MoM (vs +1.0% exp).

The headline industrial production figure in the US is still down 5.34% YoY...

Source: Bloomberg

On the manufacturing side, production grew as expected at +1.0% MoM, but Manufacturing production remains down 3.9% YoY...

Source: Bloomberg

And while the Industrial Average is at new record highs, US industrial output is certainly not...

Source: Bloomberg