US Manufacturing Production Rebounds More Than Expected In July

The rebound in US Industrial Production was expected to slow in July (from +5.4% MoM to +3.0% MoM), and printed right on those expectations (along with an upward revision to +5.7% MoM on June). Year-over-year, Industrial Production remains down over 8%...

Source: Bloomberg

Manufacturing was also expected to slow (from +7.2% MoM in June to +3.0% MoM in July), but beat expectations with a 3.4% MoM rise, but remains down 7.7% YoY...

Source: Bloomberg

And finally, there's this. The 'real' economy's Industrial Production's "V-shaped" recovery appears a little different from the 'pretend' market of the Industrials average...

Source: Bloomberg