Recession Watch - Industrial Output Growth Plunges To 5 Year Lows

Industrial Production rose just 1.54% YoY, the weakest growth since Feb 2010 and flashing a major recessionary red light. Utilities were the biggest contributor, as Manufacturing output ended June unchanged (against expectations of a modest 0.1% rise), missing for the 2nd month in a row. Notably vehicle production tumbled 5.5% MoM. Not exactly the end to Q2 that GDP hockey-stick'rs will be wanting.

 

Worst industrial production growth since Feb 2010...

 

Worst manufacturing output growth since February...

 

Charts: Bloomberg