US Industrial Production Growth Slumps To Weakest Since January 2010

Following September's 0.2% MoM drop, October's Industrial Production dropped a further 0.2% (missing expectations of a 0.1% rise by a mile). This is the 9th MoM drop in the 10 months of this year. Utilities (-2.5%) and Mining (-1.5%) were big drivers, as year-over-year, IP rose just 0.34% - the weakest growth since January 2010 - is flashing recessionary signals loud and clear.

 

9 of the last 10 months have seen declines in Industrial Production... (not seen outside of a recession)

 

And YoY, these levels have not occurred outside of a recession...

 

We know, we know - ignore it! Means nothing because US is a Service Economy, right?!! ok.

 

Charts: Bloomberg