Optimistic analysts expected a 0.4% MoM jump in US industrial production in February (rebounding from contractions in December and January), and were pleasantly surprised with a shocking 0.6% MoM rise (after a downwardly revised 0.5% contraction in January).
This surprise jump shifted US Industrial Production into YoY growth for the first time since August...
The rise was dominated by Utilities, which rose 7.1% in February after falling 4.9% in January. Mining fell 1.5% in Feb. after rising 1% in Jan.
An impressive bounce but this was all before the virus impacts began.
Manufacturing production, however, continues to contract YoY for the 8th straight month...
Finally, we note that The Dow Jones INDUSTRIAL Average has crashed back to earth along with the real economy's actual INDUSTRIAL production...
What happens next?