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US Industrial Production Surges In July, Back To Pre-COVID-Lockdown Level

Tyler Durden's Photo
by Tyler Durden
Tuesday, Aug 17, 2021 - 01:22 PM

After disappointing prints in June, US Industrial Production and Manufacturing Output was expected to rebound in July (despite plunging confidence and Delta doomsaying), and it did. Industrial Production rose 0.9% MoM (almost double expectations of +0.5% MoM). That is the 5th straight month of increases (and 13th of the last 15 months)...

Source: Bloomberg

Drilling down on Manufacturing output, July saw a big rebound (up 1.4% MoM vs +0.7% exp) after June's unexpected 0.1% decline. That is the biggest rise since March...

Source: Bloomberg

Finally, we note that Industrial Production has just got back to pre-COVID-lockdown levels (while of course The Industrial Average is well above)...

Source: Bloomberg

Perception is reality.

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